Privatisation exercise: IFC to valuate state-owned entities

ISLAMABAD: The Privatisation Commission of Pakistan, and the International Finance Corporation (IFC), have signed a Memorandum of Understanding (MoU) here on Wednesday for the value evaluation of all those state-owned entities that are to be privatised. The MoU was signed by Federal Minister for Privatization Ghous Bux Mahar and IFC Chief Representative for Pakistan Nadeem Siddiqui. The MoU will be valid for a two years period, and can be extended further. Talking to media persons on the occasion, the federal minister for privatisation said that the valuation of national entities would be done in accordance with international standards, so that maximum possible income could be generated through the privatisation process. He said the IFC will provide free-of-cost services for valuation, so Pakistan will not be paying any money for its services. He added that work on the project has already been initiated. To a question, he said that preparation for the privatisation of the Oil and Gas Development Company had already been completed, but the process was delayed to attract better prices.

Published in The Express Tribune, August 30^th, 2012.