Government to offload 10 percent shares of OGDCL

The government has planned to offload 10 percent shares of Oil and Gas Development Company (OGDCL) on market; however, the size of Global Depository Receipts (GDRs) will depend on the results of road shows to be held by Privatisation Commission. According to an official of OGDCL, around 430 million shares would be offloaded. He maintained that the results of road shows, (starting today) would help the government decide about the number of shares of OGDCL to be offloaded on international market and local market out of total 10 percent shares.