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12 March 2004
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Friday
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20 Muharram 1425
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38 govt-owned firms to be sold soon, NA informed
By Our Staff Reporter
ISLAMABAD, March 11: As many as 38 state-owned entities are in the list of the Privatization Commission to be put on sale in the near future, the National Assembly was told here on Thursday.
Minister for Privatization Dr Abdul Hafeez Sheikh in a written statement said that out of 38 entities, three were from the telecommunication sector, seven from oil and gas sector, two from the banking and finance sector, five are from the power sector, 16 from the industry and real estate, two from the insurance while the shares of three organizations, Pakistan International Airlines Corporation (PIAc), Pakistan Petroleum Limited (PPL) and Kot Addu Power Company (KAPCO) would be offered through the stock market pretty soon.
The transaction structure of the Pakistan Telecommunication Company Limited (PTCL), Telephone Industries of Pakistan and Carrier Telephone Industries for privatization are under review.
In the oil and gas sector, the companies which would be privatized are: Oil and Gas Development Corporation Ltd (OGDCL-Pirkoh Gas Company Ltd), Pakistan State Oil (PSO), Sui Southern Gas Corporation Ltd (SSGCL), Sui Northern Gas Pipelines Ltd (SNGPL), Pakistan Petroleum Ltd (PPL), National Refinery Ltd (NRL) and Working Interest in Nine Oil/Gas Fields.
Similarly, in the banking and finance, the organizations to be privatized are: National Investment Trust (NIT) and Investment Corporation of Pakistan (ICP). In the power sector the list includes Faisalabad Electric Supply Company (FESCO), Genco (Jamshoro), Karachi Electric Supply Corporation (KESC), National Power Construction Company and Peshawar Electric Supply Company.
In the industry and real estate, the entities are: Koh-i- Noor Oil Mills, Pak-Arab Fertilizers Ltd, National Construction Ltd (NCL), Faletti's Hotel, Malam Jabba, Pak-American Fertilizer Ltd, Javedan Cement, Lyallpur Chemical, Hazara Phosphate and Sindh Engineering Limited, PECO (Badami Bagh), Mustehkan Cement, Republic Motors Ltd, PECO (Kot Lakhpat), Bolan Textile Mills and Lasbella Textile Mills. However, the transaction structure of State Life Insurance Corporation and Pakistan Re-Insurance Company Ltd are under review, he said.
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