ISLAMABAD, Nov 24: Federal Minister for Privatization Dr Abdul Hafiz Shaikh on Thursday told the Senate that Rs43.038 billion funds were generated by the government through privatization of 11 units during the financial year 2004-5.

In a written reply to a question of Muttahida Majlis-i-Amal (MMA) Senator Dr Kausar Firdous, the minister provided names of all 11 units privatized in the last financial year with the amount collected.

According to the data provided by the minister, following is the list of privatized units:

Faletti’s Hotel (Rs1.211 billion); Sale of 5.8 per cent shares of PIA through secondary offering (Rs1.100 billion); National Refinery Ltd (Rs16.415 billion); Pak-Arab Fertilizers (Rs14.125 billion); International Advertising Ltd (Rs5 billion); Sale of 15 per cent shares of the Pakistan Petroleum Ltd (Rs5.500 billion); 10 per cent additional shares of Kohat Cement (Rs41 million); 10 per cent additional shares of Dandot Cement (Rs8 million); 10 per cent additional shares of Ittehad Cement (Rs26 million); 20 per cent shares of KAPCO Rs4.604 billion); 10 per cent additional shares of Sh. Fazal Rehman & Co Rs3 million).

Meanwhile, in a written reply to a question of Awami National Party (ANP) Senator Ilyas Ahmed Bilour, Minister of State for Finance Omar Ayub Khan told the Senate that the home remittances by the overseas Pakistanis working abroad in July 2005 were $313.14 million as compared to $330.51 million in the same month last year reflecting a marginal decline of 5.26 per cent.