a day ago
- Business
- Business Recorder
Privatisation agenda makes progress
ISLAMABAD: In a significant advancement of the government's privatisation agenda, two major decisions were taken Tuesday by the Privatisation Commission Board and the Cabinet Committee on Privatisation (CCoP), marking steady progress in key strategic transactions.
1- Prequalification of Investors for Pakistan International Airlines (PIA): The Privatisation Commission (PC) Board, in its 237th meeting held under the chairmanship of Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission, Muhammad Ali, approved the prequalification of four interested parties for the divestment of Pakistan International Airlines Corporation Limited (PIACL).
The Board reviewed the recommendations of the Prequalification Committee based on the evaluation of Statements of Qualification (SOQs) submitted by five prospective investors, in line with technical, financial, and documentary requirements defined in the Request for Statement of Qualification (RSOQ). Following a thorough scrutiny, the following four Interested Parties have been pre-qualified:
PIA privatisation: EoIs due today for up to 100% stake
Consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited.
Consortium comprising Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited
Fauji Fertilizer Company Limited
Air Blue (Private) Limited
The pre-qualified parties will now proceed to the buy-side due diligence phase - a critical next step in the transparent and competitive privatisation process of PIACL.
2- Roosevelt Hotel Transaction Structure Approved:
In another major development, the Cabinet Committee on Privatisation (CCoP) today approved the transaction structure for the Roosevelt Hotel, New York, as proposed by the Privatisation Commission Board.
