Govt decides to privatise 8 salt, coal mines
As many as ten bidders express interest in National Power Company.
ISLAMABAD:
The government on Thursday decided to initiate privatisation process of eight salt and coal mines of the Pakistan Mineral Development Corporation.
The decision was taken in a meeting of the board of the Privatisation Commission. The PC Board gave the approval to go ahead with the privatisation process of PMDC’s eight Salt and Coal Mines projects. These mines are located in the districts of Jamshoro, Quetta, Kalat, Sibi, Jehlum, Khushab, Kalabagh Mianwali and Karak.
The Council of Common Interests - a powerful constitutional body to decide common matters of federation and provinces, has already given its approval for these transactions.
The Board, which met under the chairmanship of Federal Minister of Privatisation Ghous Bux Khan Mahar was also briefed regarding the upcoming Secondary Public Offering (SPO) of Pakistan Petroleum Limited (PPL), said an official release.
The Board directed the Commission to obtain approval of the transaction structure and other related issues for PPL from the Cabinet Committee on Privatisation (CCOP) and plan the offering accordingly.
The privatisation process has hit various snags over the last few years and privatisation targets have been missed.
The meeting was also informed that ten potential parties have submitted Expression of Interest (EOI) and Statements of Qualifications (SoQs) for the privatisation of National Power Company.
The PC board directed the Transaction Committee to complete the due diligence process of the SoQ for finalising the pre-qualified bidders for the NPCC.
The matter pertaining to the privatisation of SME Bank also came under discussion and it was decided that the transaction committee should review the status and reinitiate the process.
Published in The Express Tribune, November 18th, 2011.
The government on Thursday decided to initiate privatisation process of eight salt and coal mines of the Pakistan Mineral Development Corporation.
The decision was taken in a meeting of the board of the Privatisation Commission. The PC Board gave the approval to go ahead with the privatisation process of PMDC’s eight Salt and Coal Mines projects. These mines are located in the districts of Jamshoro, Quetta, Kalat, Sibi, Jehlum, Khushab, Kalabagh Mianwali and Karak.
The Council of Common Interests - a powerful constitutional body to decide common matters of federation and provinces, has already given its approval for these transactions.
The Board, which met under the chairmanship of Federal Minister of Privatisation Ghous Bux Khan Mahar was also briefed regarding the upcoming Secondary Public Offering (SPO) of Pakistan Petroleum Limited (PPL), said an official release.
The Board directed the Commission to obtain approval of the transaction structure and other related issues for PPL from the Cabinet Committee on Privatisation (CCOP) and plan the offering accordingly.
The privatisation process has hit various snags over the last few years and privatisation targets have been missed.
The meeting was also informed that ten potential parties have submitted Expression of Interest (EOI) and Statements of Qualifications (SoQs) for the privatisation of National Power Company.
The PC board directed the Transaction Committee to complete the due diligence process of the SoQ for finalising the pre-qualified bidders for the NPCC.
The matter pertaining to the privatisation of SME Bank also came under discussion and it was decided that the transaction committee should review the status and reinitiate the process.
Published in The Express Tribune, November 18th, 2011.