ISLAMABAD, June 4: The Privatisation Commission is holding on Thursday a pre-bid meeting of the pre-qualified bidders of Hazara Phosphate Fertilisers (Private) Limited (HPFL) for the acquisition of its 90 per cent shares together with management control.

The PC had invited expressions of interest (EoIs) from prospective investors engaged in manufacturing or engineering business, who can demonstrate the ability to own and efficiently manage and operate the company.

The plant at Haripur, 75km from Islamabad, is built on 57 acres of developed land and includes plant, housing and ancillary facilities.

National Fertiliser Corporation of Pakistan (Private) Limited (NFC) owns Hazara Phosphate Fertilizers (Private) Limited.

The HPFL is a state-owned private limited company, registered under the Companies Ordinance 1984. The authorised share capital of the company is Rs200 million divided into 20 million ordinary shares of Rs10 each whereas the issued, subscribed and paid-up capital of the company is Rs191.143 million comprising 19.143 million ordinary shares of Rs10 each.

National Fertiliser Marketing Limited (NFML) is currently carrying out marketing of the product of HPFL. The Purchaser shall, however, be free to market the product using its own arrangement.

The government of Pakistan in order to encourage the use of phosphate fertilisers is currently providing a subsidy of Rs204 per bag effective from 1st July 2007. The federal and NWFP governments are endeavouring to make available local phosphate rocks as raw material through enabling environment for the private sector mining companies to improve the profitability of HPFL.