CCOP likely to approve divestment of five percent OGDCL stake

A meeting of the Cabinet Committee on Privatisation (CCOP) has been convened today (Friday) to consider and approve up to 5 per cent shareholding of Oil and Gas Development Company Limited (OGDCL) through Pakistan Stock Exchange, it was learnt. Sources said the meeting to be chaired by Finance Minister Ishaq Dar would be presented the proposal to reinitiate divestment process of government shareholdings in OGDCL. The meeting, sources in the Privatisation Commission stated, would be requested to approve divestment of up to 5 per cent government shares in the company.
The meeting would also approve the divestment of 18.39 per cent government shareholding in Mari Gas Company Limited. An official claimed a few days ago a meeting between the Chairman Privatisation Commission Muhammad Zubair and Finance Minister Ishaq Dar took place to review the privatisation process and a detailed discussion was held on the timeline for privatisation of various state-owned entities (SOEs) on the list for the current year.
The agenda items of CCOP meeting are the outcome of Monday''s meeting. The agenda items of CCOP meeting, they added, are privatisation of the SME Bank and resolution of issues of Kot Addu Power Company. The inclusion of First Women Bank in privatisation programme for early implementation and initial public offering (IPO) of Gujranwala Electric Power Supply Company are also on the agenda of the meeting.
The CCOP is also expected to approve de-listing of Shalimar Broadcasting Company Limited from the privatisation list. The meeting would also be requested for inclusion of House Building Finance Corporation (HBFC) in the privatisation process for early implementation as well.