ISLAMABAD, Sept 2: Privatization Commission is all set to hold a pre-bid for sale of the assets of Karachi Hotel Project formerly allotted to Hyatt Regency Hotel Project on “as is where is” basis on Wednesday at Karachi.

The meeting will be participated by the parties that have submitted EOIs. They will be informed about the base price of the transaction. The pre-bid meeting will also facilitate the prospective investors for better understanding of the transaction and the bidding process.

The PC has received 18 Expressions of Interest from potential investors. The last date for submission of application form, power of attorney, earnest money and sealed bids is fixed as September 10. The bidding shall take place as per details given in the bid documents. —APP