PRESIDENT TO DISTRIBUTE SHARES CERTIFICATES AMONG EMPLOYEES OF PIA-NESPAK-NPCC ON SATURDAY
 

Islamabad, January 15, 2010

President Asif Ali Zardari will distribute shares certificates among the employees of Pakistan International Airlines (PIA), National Engineering Services Pakistan (NESPAK) and National Power Construction Company (NPCC) in a function being hosted by Senator Waqar Ahmed Khan Federal Minister for Privatisation under Benazir Employees Stock Option Scheme (BESOS) at Lahore tomorrow on January 16, 2010 (Saturday).

Around 20,595 employees of PIA, NPCC and NESPAK will receive the BESOS shares certificates. Total number of 17,724 employees of PIA, 2,457 employees of NESPAK and 414 employees of NPCC will receive their shares, which includes eligible permanent and contract employees.

Earlier, under BESOS so far 22,745 employees have been given shares certificates (12 % of GOP shares) in five entities namely Heavy Mechanical Complex (HMC), Oil & Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Sui Northern Gas Pipeline Limited (SNGPL) and Pakistan State Oil (PSO). 12 % of the GoP shares are being distributed among the workers free of cost.

Around 500,000 workers of 80 Units will get benefit worth above Rs.100 billion and in addition they would also get divided on the their unit certificates. So far 15 BESOS Trusts have been constituted and rest are in progress and the employees representation on the Board of directors would empower them to have their say in the decision making of their respective units.