ISLAMABAD, Nov 21: The Privatisation Commission (PC) has set Dec 8 as last date to receive expressions of interest from interested parties along with a non-refundable processing fee of Rs100, 000 for acquisition of minimum of 90pc shares of the Hazara Phosphate Fertilisers (Private) Limited (HPFL) together with management control on ‘as is, where is’ basis.

According to a statement of the Privatisation Commission (PC), the parties submitting EoI shall be sent request for statement of qualification (RSOQ) document for response, which shall form basis for pre-qualification.

Closing date for submission of statement of qualification (SOQ) is Dec 22.

Earnest money for qualification as a bidder shall be Rs40,000,000. All matters, including terms and conditions relating to privatisation of HPFL, shall be communicated to all qualified bidders from time to time prior to the bid date which shall form the basis for the bid.

The PC has invited from prospective investors i.e. companies or consortia engaged in manufacturing or engineering business who can demonstrate the ability to own and efficiently manage and operate the company.

The plant is located at Haripur (NWFP) - 75 km from Islamabad.

The cost of golden hand-shake scheme for permanent workers based on All-Pakistan State Enterprises Workers Action Committee (APSEWAC) agreement and Voluntary Separation Scheme (VSS) for the permanent executives will be shared equally between the new buyers and the Privatisation Commission.

The bidder shall bid on the basis of audited accounts of June 2007 and may also factor in the latest un-audited accounts available prior to the bidding.

The National Fertilizer Marketing Limited is currently carrying out marketing of the product of HPFL.

The purchaser shall, however, be free to market the product using its own arrangement.

The government in order to encourage use of Phosphatic Fertilisers is currently providing a subsidy of Rs204 per bag effective from July 1, 2007.

To improve the profitability of HPFL, the Federal and NWFP governments are endeavouring to make available local phosphate rock as raw material through enabling environments for the private sector mining companies.

—APP