ISLAMABAD (November 30 2006): The Cabinet Committee on Privatisation (CCoP) is scheduled to meet on Thursday night to fix OGDC share price, official sources told Business Recorder. "The CCoP will consider one-point agenda, and approve OGDC's share price" sources said.

They said that the Cabinet Division had dispatched the notice for the meeting to CCoP members, but did not give the agenda, saying that summaries would be placed before the members during the meeting. "What I can say is that the government will offer discount to investors on existing price, but I do not know how much it would be," said an official.

A few days ago, Advisor to Prime Minister on Finance, Dr Salman Shah, had said that presentations were underway in USA, UK and Middle East for the GDR of OGDC, which indicated positive results. However, he said that primary issue was ' pricing', which would be finalised very soon.

Another official of Finance Ministry said that PC had arranged a road show on GDR in London on Wednesday, the result of which would be communicated to the government on Thursday. However, yet another official said that the CCoP was expected to fix the price at $2.5 to $2.75 per share.

Copyright Business Recorder, 2006