Inspired by good response from potential investors, the Privatisation Commission is targeting the deadline of December 31, 2005 for Pakistan Steel Mills Corporation (PSMC) sell-off, and officials say that they will hold local as well as international pre-bid conferences.
An official of Privatisation Commission told Business Recorder on Tuesday that October 29 is the last date for submission of 'Request Statement of Qualification' (RSoQ) for qualified investors, and the remaining process of pre-bid conferences and due diligence would be completed by November 30, to ensure bidding in December this year.
He said: "We are in a bid to complete PMSC sell-off before the end of the current calendar year".
The official added that timely sell-off of PSMC and its handing over to successful buyer would help the government expedite privatisation process for many big transactions coming up in the next calendar year.
According to him, many key state-owned institutions were on the privatisation schedule for 2006, such as OGDC, PPL, PSO, SNGPL, and SSGC.
He said that PSMC has attracted quality investors and it was a good omen for Pakistan Privatisation Programme. He said that the Privatisation Commission would form a two-member board to monitor the pace of PSMC sell-off.
Seventeen parties have submitted Expressions of Interest (EoIs) for PSMC.
Comments
Comments are closed.