ISLAMABAD, Sept 18: The Privatization Commission here on Wednesday held a pre-bid meeting for the pre-qualified parties for better understanding of the transaction and to respond certain queries by the prospective bidders for the sale and transfer of the management rights of lot ‘A’ of ICP Mutual Funds from Investment Corporation of Pakistan.

According to the Privatization Commission, secretary PC Ahmad Waqar, ICP managing director Tariq Iqbal, transaction manager and legal consultant PC cleared the issues raised by the bidders. It was also announced that the bidding for ICP Mutual Funds lot ‘A’ will be held on September 21.

The Privatization Commission has recommended nine parties for pre-qualification for the sale and transfer of the lot ‘A’ which comprised of 12 Funds and included 1st, 3rd, 4th, 8th, 11th, 12th, 15th, 19th, 20th, 21th, 23rd and 25th. The Commission had received 16 expressions of interest (EoIs) from various local and foreign parties.

The parties were recommended for pre-qualification on the basis of the information provided to them in response to RSOQ and completing required process.

Sufficient period was given to these parties for submitting EoIs. These parties were provided with a package, containing request for statement of qualification (RSOQ). These parties have already completed their due diligence process.

The parties will bid for the whole lot. The successful bidders will manage the Funds under relevant rules prescribed by the Securities and exchange Commission of Pakistan (SECP).

The Privatization Commission has also invited the prospective bidders to submit their EoIs and the required earnest money for acquiring the assets of Associated Cement (Rohri) Limited latest by October 2.