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The Board of Privatisation Commission, which met under the chairmanship of
Syed Naveed Qamar Federal Minister for Privatisation here today gave go ahead
for holding an open bidding for the acquisition 51 % of shares of National
Power Construction Company (NPCC) together with management control on “as is
where is” basis.
The PC Board formulated its recommendation for the approval of the Cabinet
Committee on Privatisation (CCOP) prior to announcing the bidding schedule for
NPCC. The parties pre-qualified for taking part in the bidding of the NPCC
include 1. Pak Elektron Limited (PEL), 2. ICC (Pvt) Limited, 3. Al-Tuwariqi
Steel Mills, Karachi, 4. Saudi Cable Company Limited, KSA, 5. JS PE
Management, Karachi, 6. Alfanar Construction Company, KSA and 7. Zad
Investment Company, KSA.
The PC board was informed that the signing ceremony for the Share Purchase
Agreement (SPA) of Hazara Phosphate Fertilizers (Pvt) Limited (HPFL) is being
scheduled on November 28, 2008 at Privatisation Commission secretariat after
receiving the remaining payment and it will be handed over to the successful
buyer.
The meeting also reviewed the status and progress of various ongoing and
upcoming transactions.
The PC Board members, senior representatives of the respective ministries/
departments and PC officials attended the meeting.