Financial advisors to be hired for ZTBL, USC privatization

MG News | October 01, 2024 at 12:56 PM GMT+05:00

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October 01, 2024 (MLN): The Privatization Commission Board, in its 225th meeting held yesterday, approved the initiation of the process for hiring financial advisors from the panel of pre-qualified candidates for the privatization of Zarai Taraqiati Bank Ltd. (ZTBL) and the Utility Stores Corporation (USC).

According to a press statement, the meeting was convened under the chairmanship of the Minister for Privatization/Chairman of the Privatization Commission, Abdul Aleem Khan.

The board considered the evaluation committee report on hiring Financial Advisor (FA) for private sector participation in 3 DISCOs namely, GEPCO, FESCO and IESCO.

It made decisions regarding adopting the process for hiring the FA from a panel of pre-qualified financial advisors as provided in Regulation 3(2)(c) of Privatization Commission (Hiring of Financial Advisers) Regulations, 2018.

The board resolved to ensure maximum competition and utmost transparency in all privatization transactions.

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