ISLAMABAD (January 17 2007): : Privatisation Commission has received eight (8) expression of interest (EoIs) and statement of qualifications (SoQs) from interested investors for Hazara Phosphate Fertilisers Ltd (HPFL). Hazara Phosphate Fertilisers Ltd (HPFL) located at Haripur.

The factory is situated on 57 acres on developed land and includes factory, housing and other amenities. Al-Tawair Group of Companies Karachi; Allah Din Group of companies, (Warble [Pvt] Limited), Lahore; Alpha Resources (Pvt) Limited, Lahore; Carvan Motors Karachi; consortium of Dr Zaigham Dil Kha, Dr Riaz Khan and Dr A.J. Khan Aabbottabad; Farm Fertiliser (Pvt) Limited Lahore; Lilley International (Pvt) Limited and Pak Steel, Islamabad are among the parties which submitted EoIs and SoQs.

The following conditions apply for the bid. The purchaser shall continue to operate company's manufacturing facility and shall not in any way abandon, cease to operate or otherwise shutdown the existing company manufacturing facility. The cost of golden handshake scheme (GHS) for permanent workers and voluntary separation scheme (VSS) for the permanent executives will be shared equally between the new buyer and the Privatisation Commission.

The bidder shall bid on the basis of audited accounts of June 2006 or the latest audited accounts available and may also factor the latest un-audited accounts available Prior to the bidding National Fertiliser Corporation of Pakistan Limited (NFC) owns Hazara Phosphate Fertilisers Ltd (HPFL). It is an unlisted public company registered under the Companies Ordinance 1984.

The authorised share capital comprises of 20 million ordinary shares of Rs 10 each whereas the issued, subscribed and paid up shares are 19.143 million of Rs 10 each ie Rs 191.432 million.

Copyright Business Recorder, 2007