Privatisation Commission is all set to hold bidding for the privatisation of minimum of 90 percent shares of Hazara Phosphate Fertilisers Ltd (HPFL) on Monday June 18, 2007 at the Privatisation Commission Hall, Islamabad at 11 am.
PC had received eight (8) Expression of Interest and Statement of Qualifications from interested parties/investors to participate in the privatisation process of Hazara Phosphate Fertilisers Ltd (BPFL).
Two parties have become eligible after depositing the earnest money within the stipulated period which include Farm Fertiliser (Pvt) Limited Lahore and Pak Steel Re-Rolling Mills, Islamabad.
The conditions which shall be applicable to the successful bidder include 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 Hand Shake 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 and 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.
Information Memorandum, Bid Documents, and a tentative time frame for the process will be provided to pre-qualified parties only. All matters including terms, conditions, warranties, indemnities relating to the privatisation process shall be communicated to all qualified bidders from time to time prior to the bid date.-PR
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