ISLAMABAD, Oct 25: The Privatization Commission has invited Expressions of Interest (EoIs) for the transfer of management rights of Investment Corporation of Pakistan’s State Enterprise Mutual Fund (SEMF).

According to the Privatization Commission, the decision was was taken after the successful transfer of management rights of ICP Lot-A & B Mutual Funds.

EoIs have been invited from reputable international and local parties (participating solely or as part of a consortium) who have an interest in entering the process with a view to acquiring the management rights of ICP SEMF.

ICP SEMF has a capital of Rs840 million and its net asset value as on October 11, 2002, is Rs2.6 billion.

On receipt of EoIs, the parties will be provided with a package containing request for statement of qualification (RSOQ). However, the already pre-qualified parties for ICP Lot-A & B Mutual Funds transactions, who are interested in acquiring the management rights for ICP SEMF need not to submit RSOQ, but are required to submit fresh EoIs with the non-refundable processing fee.

The last date for submission of EoIs has been fixed as November 11.