European Union Commissioner for Trade Peter Mandelson told the Pakistani ministerial delegation led by Prime Minister Shaukat Aziz that 14 out of 25 member states in the council voted against reduction of duty from 13 to zero percent on Pakistani textile items in the last meeting held in Brussels at the end of last week.

Those who voted against giving concessions to Pakistan included connection, the commission allowed the corporation to issue 4,366,782,389 ordinary shares of Rs 3.50 per share, other than right offer, to government of Pakistan (GOP) in order to convert GOP's loan amounting Rs 15,283,738,365 under the proviso to sub-section (1) of Section 86 of the Companies Ordinance, 1984.

In this regard, the corporation issued a notice to KSE on Tuesday, in which it mentioned that a meeting of KESC Board of Directors will be held on 29-01-2005, wherein issuance of share capital to GOP in exercise of power vested through the Special Resolution passed at the AGM will be considered.

Copyright Business Recorder, 2005