Privatization Commission to surrender 320m OGDCL shares after 10 years

MG News | July 30, 2024 at 02:42 PM GMT+05:00

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July 30, 2024 (MLN): In a significant development, the Privatization Commission has decided to surrender 320 million shares of Oil and Gas Development Company Limited (OGDCL) after holding them for ten years.

These shares were initially transferred to the commission for sale to a friendly country, aiming to enhance foreign investment and strengthen economic ties.

The Cabinet Committee on Privatization (CCoP) is set to convene on August 2 to deliberate on this and two other crucial decisions.

Among the key agenda items, the committee is expected to approve a Rs8 billion budget for the current fiscal year's privatization program and the operations of the Privatization Commission.

This budget will be vital in driving the government's ongoing efforts to streamline and optimize state-owned enterprises.

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