WAQAR TO CHAIR FIRST MEETING OF RECONSTITUTED & EXPANDED 15-MEMBERS PRIVATISATION COMMISSION BOARD ON THURSDAY (TOMORROW)

Islamabad, March 17, 2010

 
A meeting of the recently reconstituted and expanded 15 members Board of Privatisation Commission is being held under the chairmanship of Senator Waqar Ahmed Khan Federal Minister for Privatisation (Tomorrow) Thursday March 18, 2010 at 1130 hrs at the Privatisation Commission’s secretariat, Islamabad. Earlier, the PC board comprised of eight members.

Besides the introduction of new members of the PC Board, the meeting will review the implementation status of the decisions taken during the last meeting. The new members will be briefed about the activities and the functioning of the Privatisation Commission.

The PC board will discuss the matters pertaining to the convertible Bonds of Oil & Gas Development Company Limited (OGDCL), transaction structure of Faisalabad Electric Supply Company (FESCO), transfer of the remaining properties to Pakistan Telecommunication Company Limited (PTCL) and outstanding proceeds and the progress pertaining to the restructuring of entities in the Privatisation Program. Recommendation for various transactions will be formulated for approval of the cabinet Committee on Privatisation (CCOP).

The newly reconstituted 15-members PC Board includes 1. Engr. Iftikhar ul Haq, Master in Public Administration Punjab University (B.Sc. Mechanical Engineering) having 40 years experience of management of projects, companies, corporations and government departments. Since 1987 he is MD, Engineering General Consultants (Pvt) Ltd, Lahore. He remained member PC board from 1993 to 1996 and from 2003 to February 2008, 2. Mr. Laeeq Ahmed MBA, Wharton School, University of Pennsylvania, USA remained member PC Board from April 1994-96 is presently CEO, Olympus International (Pvt) Ltd, Lahore (project developers in Telecom & Energy sectors), 3. Mr. Mahmood Nawaz Shah, MS (Engineering Management) George Washington University, USA, is agriculturist of Sindh, remained member PC Board from March 2003 to February 2008, 4. Mr. Pervaiz A. Khan, MBA (Finance & International Business) Columbia University, USA is presently CEO Uch Power Project, having diversified experience in energy sector and corporate investment banking, 5. Mr. Tanvir Ahmad Sheikh, MBA from OHIO University, USA, a renowned industrialist former President FPCCI, Vice President ICCI decorated with gold medal in 2002 by the President of Pakistan for his services for Business Community, Chairman MEPCO successfully running complex of industrial groups since 1981, 6. Mr. Asif Kamal, BA in Finance from University of South Florida, USA, Chairman Trust Investment Bank, Chief Executive Tricon Developers, 7. Dr. Masuma Hasan, Ph. D. (Economics and Politics) from University of Cambridge, UK, former Federal Secretary Cabinet Division, Chairperson, Pakistan Institute of International Affairs, Member Board of Governors SDPI, Member Board of Directors PRCL, Member, Board of Governors Aurat Foundation, 8. Prof. Dr. Syed Mansoor Hussain, MBBS, FACC, FACS, Chairman Departement of Cardiac Surgery, King Edward Medical University and head of Department of Cardiac Surgery, Mayo Hospital, Lahore and a columnist, 9. Mr. Kurshid Zafar, MBA, Qauid-e-Azam University, presently serving as SEVP & Group Chief Corporate and Investment Banking for Arif Habib Bank Limited, 10. Justice (Retd) Munir A Sheikh, Retirede Judge of Supreme court of Pakistan, decided more than 5000 complaints/ cases relating to Federal Taxes i.e. Income Tax, Sales Tax, Central Excise & Customs as former Federal Tax Ombudsman, 11.Syed Feroze jamal Shah Kakakhel, Bar-at-Law, Lincolin’s Inn, UK, with experience in foreign investment, general corporate, commercial, company advisory and litigation, Banking, Oil & Gas and multilateral institutions, 12. Mr. Saifullah Magsi, Postgraduate diploma in Professional legal Skills, Inns of Court School of Law, The City University, UK, 13. Mr. Atif Salman, 14. Mr. Ali Siddique and 15. Mr. Shahab Khawaja, Secretary/ Member Privatisation Commission.