ISLAMABAD, June 19: The Privatisation Commission is holding a pre-bidding meeting of Pakistan State Oil (PSO) here on Wednesday to answer the queries of pre-qualified bidders for acquiring 51 per cent equity stake with management control in the largest oil marketing company (OMC) of the country.

A hand-out of the PC issued here on Tuesday said that the meeting would be presided over by the Federal Minister for Privatisation and Investment Zahid Hamid.

The bidders have already completed their due-diligence. JPMorgan is advising the PC on this transaction.

PSO is engaged in the storage, distribution and marketing of petroleum products, piqued petroleum gas, compressed natural gas and petrochemicals. It has more than 3,800 retail outlets spread across the country with over 60 per cent market share in POL products.