PC gives Go Ahead For NPCC bidding

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ISLAMABAD: The Board of Privatisation Commission gave go ahead for holding an open bidding for the acquisition of 51 percent of shares of National Power Construction Company (NPCC) together with management control on "as is where is " basis.

The PC Board met here Wednesday under the chairmanship of Federal Minister for Privatisation Syed Naveed Qamar.

The PC Board formulated its recommendation for the approval of the Cabinet Committee on Privatisation (CCOP) prior to announcing the bidding schedule for NPCC.

The parties pre-qualified for taking part in the bidding of the NPCC include Pak Electron Limited (PEL), ICC (Pvt) Limited, Al-Tuwariqi Steel Mills, Karachi, Saudi Cable Company Limited, KSA, JS PE Management, Karachi, Alfanar Construction Company, KSA and Zad Investment Company, KSA.

The PC board was informed that the signing ceremony for the Share Purchase Agreement (SPA) of Hazara Phosphate Fertilizers (Pvt) Limited (HPFL) is being scheduled on November 28, at Privatisation Commission secretariat after receiving the remaining payment and it will be handed over to the successful buyer.

The meeting also reviewed the status and progress of various ongoing and upcoming transactions.

The PC Board members, senior representatives of the respective ministries, departments and PC officials attended the meeting.



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