ISLAMABAD, April 22: Twelve Expressions of Interest (EoIs) have been received by the Privatization Commission (PC) from different local and foreign parties for acquiring as one lot the management rights of ICP Mutual Funds from Investment Corporation of Pakistan.

The lot comprises 12 funds—Ist, 3rd, 4th, 8th, 11th, 12th, 15th, 19th, 20th, 21th, 23rd and 25th.

These parties include: ABAMCO Limited, Arif Habib Investment Management Limited, Charless Schmitt & Associates Limited (CSA) Hong Kong, Dominion Stock Fund Limited, Javed Omer Vohra & Company Limited, KASB Securities (Private) Ltd, Khadim Ali Shah Bukhari & Co. Ltd, National Development Leasing Corporation Limited, Pakistan Industrial Credit and Investment Corporation Ltd. (PICIC) and Sulaiman Ahmad Al Hoqani, UAE.

Sufficient period of three weeks was given to the parties for submitting EoIs. These parties have been provided with a package, containing Request for Statement of Qualification (RSOQ). It is envisaged that once the parties have been pre-qualified on the basis of the information provided by them in response to the RSOQ, they will be facilitated in conducting their due diligence process after which they will enter into a competitive bid, negotiations and sale process with the PC in accordance with the privatization laws of Pakistan. The bidding is being scheduled for the next month.