Minister of State for Privatisation Muhammad Zubair chaired the fourth board meeting of the privatisation commission. PHOTO: NNI
ISLAMABAD: A board meeting of the privatisation commission on Tuesday approved initiation of contract negotiations for the sale of three companies.
Meeting under the chairmanship of Privatisation Commission chief Muhammad Zubair, the board was apprised on the shortlisted financial advisors for the transactions of Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL) and United Bank Limited (UBL) for approval.
On the basis of the technical and financial scoring, the board unanimously approved to initiate contract negotiations with a consortium that is composed of Merril Lynch International, Citigroup Global Markets Limited, KASB Bank Limited for OGDCL.
A consortium led Habib Bank Limited, Bank Alfallah Limited, Arif Habib Limited, Foundation Securities Private Limited, BMA Capital Management Limited for PPL.
A consortium composed of Credit Suisse, Arif Habib Limited and Elixir Securities for UBL as financial advisors.
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PIA and Pak.Steel should have been forst on the block.........as they are losing money and are nothing but pits of corruption.