January 31, 2003	Friday	Ziqa’ad 27, 1423

ISLAMABAD, Jan 30: Privatization Commission on Thursday formed a committee to identify more public sector entities for privatization.

The decision was taken during a meeting, presided over by Dr. Abdul Hafeez Shaikh, the Adviser to the Prime Minister on Privatization and Investments. The advisor directed to accelerate the pace of privatisation of public sector entities in order to achieve the desired results. He also directed the organizations/ departments concerned to finalize and expedite the privatization process of PSO. The meeting was informed that the bidding date for the privatization of the PSO will be decided in the second pre-bid conference scheduled at Islamabad on February 19, 2003.

The meeting decided to take up the KESC liabilities issue with the government to move the transaction forward.

The meeting was further informed that the pre-qualification of the potential bidders for the privatization of Pakistan Telecommunication Company Limited (PTCL) will soon be approved by the PC Board, which is being reconstituted.

A committee was also set up to work out the details with regard to the divestment of shares of various public sector entities through the stock market, for carrying further the policy of broadening and deepending the capital market so that the general public also participates in and benefits from the privatization process.

The meeting reviewed in detail the progress, process and the status of the privatisation of Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Faisalabad Electric Supply Company (FESCO), Jamshoro Power Company (JPC), Karachi Electric Supply Corporation (KESC), Sui Northern Gas Pipeline Limited (SNGPL), Sui Southern Gas Company (SSGC) and other entities.

The adviser directed the legal wing of PC to prepare a report on the current status of litigation cases. The meeting was attended by the senior officers and consultants of the Privatization Commission.