ISLAMABAD: Federal Minister for Finance, Senator Mohammad Ishaq Dar chaired a meeting of the Cabinet Committee on Privatization (CCOP) to review the process for divestment of Government of Pakistan shares in National Power Construction Corporation Private Limited.
Chairman Privatization Commission (PC), Mohammad Zubair briefed the Finance Minister on the process for subject divestment and sought decision from the CCOP on Reference Price for the sale of 88 percent of the shares of NPCC owned by the Government of Pakistan. Chairman PC informed the Chair that 16 parties had expressed interest in bidding process and seven were finally selected on the recommendations of the Financial Advisors as the pre-qualified parties on May 8, 2014.
Chairman PC further said that out of all the pre-qualified bidders, three finally deposited the prescribed Earnest Money of PKR 100 million along with submission of applications, specified supporting information and prescribed undertakings. The Bidding process for the purchase of the shares would be held on Tuesday, August 11, 2015.
After detailed deliberations the chair with consensus of the house accorded approval for the reference price.
Besides Finance Minister Senator Mohammad Ishaq Dar, Federal Minister for P&NR, Shahid Khaqan Abbasi, Chairman Privatization Commission, Muhammad Zubair, Secretary Finance, Dr. Waqar Masood, Secretary Privatization Commission, Ahmed Nawaz Sukhera, Secretary Planning, Hasan Nawaz Tarar, and other senior Officials attended the meeting.
