ISLAMABAD, Jun 4: The Board of Privatisation Commission, chaired by Zahid Hamid, Federal Minister for Privatisation and Investment, here on Monday took decisions on various details relating to the Initial Public Offering (IPO) of Habib Bank Limited (HBL) to enable the subscription to take place during the current month in a meeting.

This will be apart from the United Bank Limited (UBL) Global Depository Receipt (GDR) transaction in which book-building is expected to be completed by June 22.

The board awarded financial advisory services contract to Khalid Majid Rahman, chartered accountants for the privatisation of Pakistan Mineral Development Corporation (PMDC)'s Coal and Salt mines projects.

The board decided to recommend to Cabinet Committee on Privatisation (CCOP) various options relating to the privatisation of National Power Construction Corporation (NPCC).

The meeting was informed that the pre-bid meeting with intending bidders for Hazara Phosphate and Fertilisers Limited (HPFL) was held on June 22 and that the Privatisation Commission was all set to hold bidding on June 18.

The Board also reviewed progress and status of the transactions relating to sale of Services International Hotel (SIH) land, Lahore, land and property of Republic Motors Limited, Lahore, PTDC's motels and restaurants and other ongoing and upcoming privatisations.—APP