ISLAMABAD, Jan 30: Privatization and Investment Minister Dr Abdul Hafeez Shaikh on Monday told the upper house that the government sold out 50 units during the last four years.

In a written reply to a question raised by Senator Prof Ghafoor Ahmed in the upper house, the minister said that Rs148.289 billion were received from all these transactions during January 2002 to December 2005. However, he did not give the individual proceeds of these transactions.

The minister said that according to Privatization Commission Ordinance, 2000, the net proceed after deducting the privatization cost was transferred to the ministry of finance for utilization according to the law.

The entities privatized during the year 2002 included: NBP (37.3 million shares), National Petrocarbon (additional 10 per cent shares), Kot Addu (Escrow A/c), Adhi, Dhurnal, Ratana, Pak-Saudi Fertilizer Ltd, Badin II (Revised), Badin I, Turkwal, E & M Oil Mills, Maqbool Oil Company Ltd, ICP Lot-A, Pak-Saudi Fertilizers Ltd (10 per cent), Al Haroon Building Karachi; United Bank Ltd (51 per cent share), Muslim Commercial Bank, Pakistan Oils Fields Limited shares, ICP Lot-B, National Bank of Pakistan 10 per cent, Bank Alfalah and DG Khan Cement share.

In the year 2003, seven units were privatized: Attock Refinery Limited shares, ICP-SEMF, Khuram Chemicals (additional 10 per cent), National Bank of Pakistan 3.2 per cent, sale of 5 per cent shares of OGDCL through IPO, Associated Cement Rohri and 51 per cent GOP stake in HBL.

The government in the year 2004 privatized nine units: Thatta Cement, sale of 10 per cent shares of SSGC through secondary offering, Kohinoor Oil Mills, Falleti’s Hotel, Lahore, sale of 8 per cent share of PIA through secondary offering, sale of 15 per cent shares of PPL through IPO, 10 per cent additional shares, Dandot Cement, 10 per cent additional shares of Kohat Cement and 10 per cent additional shares of Itehad Chemicals.

In the year 2005 12 units had been privatized: sale of 20pc shares of KAPCO through IPO, International Advertising (Pvt) Ltd, Sh Fazal Rehman (10pc additional shares), NRL (51pc GOP shares), Pak Arab Fertilizers (Pvt) Ltd (94.8pc), 26pc (Rs1.326 billion) B class shares of PTCL, sale of 4.22pc shares of UBL through IPO, United Industries Limited, Carrier Telephone Industries, Bolan Textile Mills, Karachi Electric Supply Corporation and Mustehkam Cement Limited.