March 20, 2007	Tuesday	Safar 30, 1428

KARACHI, March 19: The Kuwait News Agency claimed in a report on Sunday that Prime Minister Shaukat Aziz responded positively to extend the bidding date for Pakistan State Oil (PSO) for one month.

The Kuwait and Gulf Link Transport Co., a cargo shipper bidding for a stake in state-controlled Pakistan State Oil Co., asked the Pakistan government to postpone its deadline for offers to allow more time to prepare a bid.

The government has set May 5 deadline for PSO bidding. The news agency reported on its website that in a meeting with Pakistan Prime Minister Shaukat Aziz, the Kuwait and Gulf chairman Yousif al-Zalzalah asked for the bid deadline to be moved back to June 5 from May 5. Aziz “responded positively,” said the report.

Pakistan is making a second attempt to sell its 51 per cent stakes in Pakistan State Oil, the nation's biggest fuel supplier.

The PSO has over 70 per cent market shares and the government has intention to reduce its foreign debt through sale of the most attractive fuel supply company.

A total of 14 companies, including Goldman Sachs Group Inc. and Abraaj Capital Ltd., have expressed interest in the PSO.