ISLAMABAD, Jan 28: The Privatization Commission has delayed a second meeting with companies interested in bidding for a 51-per cent stake in Pakistan State Oil until February 19, an official said on Tuesday.
PSO shares fell by Rs10.60 to Rs201.65 on Tuesday as rumours of a delay hit the market, but the government official said it was purely a scheduling issue and would not affect the sale.
He said one of the potential bidders had requested that the meeting, originally scheduled for January 30, should be delayed until after the Eid-ul-Azha, due on February 12 and 13.
“The other bidders agreed to the requested change. It will now be held on Feb 19,” the official added. A date for the bidding process is expected to be decided at the meeting.
At a previous meeting in November, representatives of state-run Kuwait Petroleum Corp, Saudi Arabian group MIDROC and a local business group, the Fauji Foundation, took part.—Reuters
