Pakistan Engineering Company embarks on privatization journey

MG News | November 08, 2023 at 03:05 PM GMT+05:00

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November 08, 2023 (MLN): The Privatisation Commission (PC) has initiated the process of privatization of Pakistan Engineering Company Limited (PSX: PECO), the company’s filing on the local bourse revealed today.

In this regard, PC has exercised powers conferred upon under section 5(f)(g)(h) read with section 35 of the Privatisation Commission Ordinance 2000.

The management of PECO is directed that they shall not make any major administrative, financial, and policy decisions without prior approval of the Privatisation Commission.

Pakistan Engineering Company Limited is principally engaged in the manufacturing and sale of engineering products.

The major products of the company are electricity transmission and communication towers, electric motors, pumps and steel rolled products, etc.

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