HBL employees to get shares under stock option scheme
ISLAMABAD:
A delegation of the Habib Bank Limited (HBL) Officers Federation of Pakistan called on Federal Minister for Privatisation Waqar Ahmed Khan here on Wednesday to discuss the implementation of the Benazir Employees Stock Option Scheme (BESOS).
Waqar directed Privatisation Commission officials to speed up the process of transferring 12 per cent shares to the employees and hold a meeting with the State Bank of Pakistan and the Finance Division to settle issues.
BESOS has become a reality after it started delivering results in shape of dividends to those employees who have received shares of their enterprises, he said.
The minister said that it was for the employees to work hard and make their companies more profitable to get due dividends, which would also help in the progress and improvement of national economy.
So far, 62,000 employees of 16 state-owned units have received 12 per cent shares free of cost of their respective enterprises under the BESOS.
Dividend amounting to Rs984 million of four organisations - Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO) and Mari Gas Limited (MGL) - have been distributed among the employees.
The remaining 50 per cent dividend worth Rs889 million has been deposited in the Privatisation Central Revolving Fund for future utilisation.
To implement BESOS, the Privatisation Commission has registered 35 BESOS Trusts in different enterprises.
Published in the Express Tribune, June 10th, 2010.
A delegation of the Habib Bank Limited (HBL) Officers Federation of Pakistan called on Federal Minister for Privatisation Waqar Ahmed Khan here on Wednesday to discuss the implementation of the Benazir Employees Stock Option Scheme (BESOS).
Waqar directed Privatisation Commission officials to speed up the process of transferring 12 per cent shares to the employees and hold a meeting with the State Bank of Pakistan and the Finance Division to settle issues.
BESOS has become a reality after it started delivering results in shape of dividends to those employees who have received shares of their enterprises, he said.
The minister said that it was for the employees to work hard and make their companies more profitable to get due dividends, which would also help in the progress and improvement of national economy.
So far, 62,000 employees of 16 state-owned units have received 12 per cent shares free of cost of their respective enterprises under the BESOS.
Dividend amounting to Rs984 million of four organisations - Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO) and Mari Gas Limited (MGL) - have been distributed among the employees.
The remaining 50 per cent dividend worth Rs889 million has been deposited in the Privatisation Central Revolving Fund for future utilisation.
To implement BESOS, the Privatisation Commission has registered 35 BESOS Trusts in different enterprises.
Published in the Express Tribune, June 10th, 2010.