PC denies Ibrahim Fibres backing out reports

The Privatisation Commission has denied reports that Ibrahim Fibres Limited, the successful bidder for Pak American Fertilisers Limited (PAFL), had backed out of its offer to make payment within 14 days on receipt of Letter of Acceptance (LoA).
An official of the Privatisation Commission told Business Recorder late on Monday night that reports of Ibrahim Fibrers backing out were "just rumours".
He said the last date for payment by Ibrahim Fibres Limited for PAFL is March 25 and it was not fair to have any conclusion prior to the fixed date.