ISLAMABAD, June 7: The Cabinet Committee on Privatization (CCoP) on Tuesday approved the highest bid of Rs16.415 billion received from Attock Oil Group for National Refinery Limited (NRL). The CCoP met under the chairmanship of Prime Minister Shaukat Aziz.

Earlier, the PC Board in its meeting held under the chairmanship of Federal Minister for Privatization and Investment Dr Abdul Hafeez Shaikh had recommended the highest offer for approval of the CCoP.

The Attock group made highest bid with an offer of Rs483 per share with a total bid offer of Rs16.415 billion followed by Crescent Steel for Rs260 per share and Fauji Foundation Consortium for Rs197 per share.—APP