The Privatisation Commission (PC) realised proceeds to the tune of Rs 105 billion during the last two years, including recently conducted privatisation of Pakarab Fertilisers Limited and National Refinery Limited, as against Rs 93 billion from 1991 to 2003. Minister for Privatisation and Investment Dr Abdul Hafeez Shaikh stated this while chairing a meeting of the PC board here on Tuesday.
The minister said in coming weeks more important transaction would be taken up including bidding for the Pakistan Telecommunication Company Limited (PTCL) on June 18. He lauded efforts and good work done by the PC board and officials.
The board reviewed process of appointment of financial advisor for the privatisation of Pakistan Steel Mills and took steps to ensure adherence to the timetable of December 31, 2005.
The board discussed and expressed its satisfaction over arrangements for transparent bidding of the PTCL. The board was informed that the pre-qualified bidders would deposit earnest money of $40 million each latest by June 16, 2005, to be eligible for participating in the bidding process as per laid down regulations in the bid documents.
The meeting also reviewed matters pertaining to pre-qualification of parties for the privatisation of Jamshoro Power Company (JPC), Karachi Shipyard and Engineering Works and formulated its recommendations for the Cabinet Committee on Privatisation for the sale of Bolan Textile Mills Machinery, Badami Bagh Land of PECO and Mustehkum Cement Limited.
The PC board members and officials, representatives of respective ministries, departments and organisations attended the meeting.-PR