KARACHI: The Privatisation Commission of Pakistan deferred plan to sell 10 percent shares in the country’s biggest oil exploration firm – the Oil and Gas Development Company Ltd after it got he lukewarm response from local and foreign buyers.
A source in OGDCL said the government did not get the price it wanted. “It went down to the wire,” he added. Another source said the offers were undersubscribed and the government received little over 50 percent bids for 311 million shares it offered for divestment.
