IT seems all is set for OGDC’s privatisation. The company is performing far better than other companies in the list of privatisation.

According to the tax directory published recently, the OGDC is on top of the list from the corporate sector which paid a huge amount of tax. For the privatisation process, the government has appointed one consultant.

It should be kept in mind that so far the OGDC is well engaged in exploration of oil and gas in different areas. Recently, the company announced the discovery of gas reservoirs. The company is also engaged in work in oil and gas fields across the country.

The government is intending to hand over the administrative control of companies on the privatisation list. After purchase of 26pc shares, one may get control.

In this case, it would be better not to use this option as an exception. Otherwise, there are chances that share value and the Karachi Stock Exchange index will slide down.

The OGDC, a blue-chip script, has heavy weightage on the KSE 100 index. In such a case, there will be a remarkable impact of the stock market. Therefore, the Privatisation Commission should clarify this as soon as possible.

Dr Alfred Charles

Karachi