ISLAMABAD, Dec 13: The Privatization Commission (PC) has invited Expressions of Interest (EoI) from strategic investors to divest 51 per cent shareholding in Sui Northern Gas Company Ltd (SNGPL), a statement issued here on Tuesday said.
SNGPL offers significant potential for and earnings growth to an investor with the resources and expertise to operate gas transmission, distribution, wholesale and retail bossiness.
SNGPL was incorporated in 1963 as a private limited company and was converted to a public company in 1964. SNGPL is the largest gas transmission and distribution company in Pakistan, with a franchise area comprising the provinces of Punjab and NWFP serving more than 2.3 million consumers.
The Privatization Commission asked potential bidders to submit their expressions of interest and complete the required documentation by Feb 11.
A consortium led by PricewaterhouseCoopers is advising the government of Pakistan on the privatization of SNGPL.
The invitations for the Sui Southern Gas Company (SSGC) privatization are being invited separately and shortly.
