The Privatisation Commission Board deferred decision in Azgard-9 case for extension in Pak-Arab Fertiliser Company (PAFL) payment deadline till June 16, as its members remained divided over the issue in its Tuesday''s meeting.
Sources said that the PC Board, which met here on Tuesday and discussed the case of Azgard-9-led consortium for extension in bid money payment deadline for PAFL, deferred it for June 16, as the participants wanted some clarifications from the party before taking any decision in the issue.
The Board wanted to know from the Azgard-9-led consortium whether it had made any arrangement with any bank to raise the money for payment of 75 percent of the bid money roughly amounting to Rs 12 billion.
Sources said the Board members held different views on the issue. Majority of them was in favour of granting time but some of them were opposed to it and suggested that the case should be referred to CCoP for re-bidding.
Sources said the question of PAFL payment in instalments did not arise as it was neither demanded nor discussed at any level. They said Azgard-9 had approached the PC only for extension in payment deadline and the Board discussed it and deferred decision for June 16.
Sources said PC board''s decision either way would be submitted to Cabinet Committee on Privatisation (CCoP) for further guidance.
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