ISLAMABAD: Federal Minister for Privatization Syed Naveed Qamar on Wednesday directed Board of Privatization Commission to go-ahead for holding an open bidding for the acquisition 51 % of shares of National Power Construction Company (NPCC) together with management control on “as is where is” basis. The PC Board formulated its recommendation for the approval of the Cabinet Committee on Privatization (CCOP) prior to announcing the bidding schedule for NPCC. The parties pre-qualified for taking part in the bidding of the NPCC include
1. Pak Electron Limited (PEL),
2. ICC (Pvt) Limited,
3. Al-Tuwariqi Steel Mills, Karachi,
4. Saudi Cable Company Limited, KSA,
5. JS PE Management, Karachi,
6. Alfanar Construction Company, KSA and
7. Zad Investment Company, KSA.
The PC board was informed that the signing ceremony for the Share Purchase Agreement (SPA) of Hazara Phosphate Fertilizers (Pvt) Limited (HPFL) is being scheduled on November 28, 2008 at Privatization Commission secretariat after receiving the remaining payment and it will be handed over to the successful buyer.
The meeting also reviewed the status and progress of various ongoing and upcoming transactions. However, the meeting was presided over by Syed Naveed Qamar. Meanwhile, the PC Board members, senior representatives of the respective ministries/ departments and PC officials attended the meeting.-SANA