The PC Board discussed the recommendations of the committee for the proper sequencing of strategic sale of the public sector entities to be offered and the initial public offering as well as secondary public offering for the divestment of government shares through capital market.
The Board decided than the Privatisation Commission would set up target dates for each transaction and firm dates would be announced for information of the public well in time to avoid speculation.
The Board approved recommendations of the committee for pre-qualification of the bidders of the privatisation of National Power Construction Corporation (NPCC). It discussed matters related to the secondary public offering of the shares of United Bank Limited (UBL) and offer of shares to employees of the Pakistan Telecommunication Company Limited (PTCL). Progress of privatisation of Pakistan State Oil (PSO) was also reviewed.
The PC Board also considered the case of Saindak Metals Limited/Saindak Development Corporation (SDC) and recommended its de-listing from the privatisation programme in view of the fact that the project has been leased out for 10 years to a Chinese company.