ISLAMABAD, Jan 3: The Privatization Commission has invited expressions of interest (EoIs) from qualified strategic investors to divest 51 per cent shareholding in Sui Southern Gas Company Limited (SSGC).

“SSGC offers significant potential for revenue and earnings growth to an investor with resources and expertise to operate gas transmission, distribution, wholesale and retail business,” the Privatization Commission said in a statement issued here on Tuesday.

The Privatization Commission has asked the qualified parties interested in acquiring the shareholding and management control to submit their EoIs along with the required non-refundable processing fee, including the name and address of the party, date and place of incorporation and contact details, experience in the gas sector and international gas industry development, involvement in the acquisition/operation of gas companies requiring system upgrading and managerial restructuring, audited financial statements and details of ownership structure.

Parties with relevant credentials and who submit a formal EoI will be provided with a documentation package, including a request for statement of qualification (SOQ) and preliminary information memorandum.

The early submission of EoIs will allow parties maximum time for completion of their statement of qualification requirements. The Privatization Commission asked the interested parties to submit the SOQ by March 4, 2006.

Earlier, the Privatization Commission has invited EoIs for the privatization of SNGPL on March 4, 2006, with last date to receive EoIs on February 11, 2006. A consortium led by PricewaterhouseCoopers is advising the GoP on the privatization of both SNGPL and SSGC.

SSGC was formed in 1989 following a series of mergers of three pioneering companies — Sui Gas Transmission Company Limited, Karachi Gas Company Limited and Indus Gas Company Limited. SSGC is Pakistan’s leading integrated gas company, with a franchise area covering the provinces of Sindh and Balochistan and serving more than 1.7 million consumers.