Privatization Commission decides to appoint financial advisor for six state-run units

MG News | August 29, 2019 at 11:09 AM GMT+05:00

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August 29, 2019 (MLN): The Privatization Commission board on Thursday has decided to appoint financial advisor for six state-run companies to privatize.

According to the Ministry of Privatization, the board has planned to hire financial advisory consortium to help sell 7% stakes in OGDC and 10% stakes in Pakistan Petroleum Limited (PPL).

With regards to power generation companies, the government has planned to sell 100% stakes of Heavy Electrical Complex, Guddu Power Plant and Nandipur 425-525 MW.

Whereas, concerning to financial institution, the government has intended to initiate a plan to sell House Building Finance Corporation (HBFC).

The board has approved the initiation of privatisation process and invited the expressions of interest for hiring financial advisers, as per which the companies can submit bids for financial advisor for HBFC by September 24, 2019, while for Nandipur, Guddu power plant and OGDC shares, companies can submit bids by October 2, 2019.

For PPL and Heavy Electric Complex, companies can submit bids by October 3, 2019.

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