PSO pre-bid meeting today

Published February 19, 2003

KARACHI, Feb 18: The three top bidders for a 51-per cent stake in Pakistan State Oil (PSO) were to meet on Wednesday to finalize a sale date, the Privatization Commission said.

The sale of a controlling half of PSO, which controls 70 per cent of the domestic petroleum market, tops the government’s broader privatization agenda.

Two Middle Eastern outfits, the Kuwait Petroleum Company and Midrock of Saudi Arabia, and a local business group, Fauji Foundation, have emerged as top bidders.

“We have invited all three potential buyers to hold a meeting with the commission,” a commission spokesman told AFP. “The meeting is likely to come out with a final date for PSO’s privatization.”—AFP

Editorial

Ominous demands
Updated 18 May, 2024

Ominous demands

The federal government needs to boost its revenues to reduce future borrowing and pay back its existing debt.
Property leaks
18 May, 2024

Property leaks

THE leaked Dubai property data reported on by media organisations around the world earlier this week seems to have...
Heat warnings
18 May, 2024

Heat warnings

STARTING next week, the country must brace for brutal heatwaves. The NDMA warns of severe conditions with...
Dangerous law
Updated 17 May, 2024

Dangerous law

It must remember that the same law can be weaponised against it one day, just as Peca was when the PTI took power.
Uncalled for pressure
17 May, 2024

Uncalled for pressure

THE recent press conferences by Senators Faisal Vawda and Talal Chaudhry, where they demanded evidence from judges...
KP tussle
17 May, 2024

KP tussle

THE growing war of words between KP Chief Minister Ali Amin Gandapur and Governor Faisal Karim Kundi is affecting...