CNL may move court against PTCL sell-off

The employees and management of Commercial Network Limited (CNL), a group of phone utility, may move court against Privatisation Commission (PC) for restraining the company from participating in Pakistan Telecommunication Company Limited (PTCL) sell-off.
Sources told Business Recorder on Tuesday that CNL had shown interest for PTCL bidding, but it was dodged by the Commission, for reason best known to it, so that it could not take part in the process on June 18.
The CNL was formed and registered in 2001, under the provision of Privatisation Ordinance, which allows management and employees buyout of the phone utility.
The company applied during the same year (2001) for Expression of Interest (EoI) for PTCL and was pre-qualified for 'Statement of Qualification' (SoQ).
The Privatisation Commission did not timely issue SoQ to CNL, and when one of the company's directors contacted the Commission, it had been given only three days before the deadline to submit a detailed document that usually takes over six months to fulfil the lengthy requirements.
On January 26, this year, the CNL wrote a letter to the PC Consultant dealing in phone utility privatisation for SoQ, the company received a communication from the Commission which said:
"It may please be noted that as per recent advertisement and our letter (Not received by the CNL), the last date for submission of qualifications by all interested parties was January 28, 2005.
"However, in the light of CNL's past interest in the transaction, We (PC) would be pleased to receive your (CNL) completed SoQ by February 04, 2005. The request for SoQ is attached with this letter for your (CNL) review and your completion. It is requested that the requirement of request for SoQ be completed by February 04, this year."
The company said that SoQ comprised several detailed documents, including executive summary, organisational structure, management, financial, legal, technical capabilities of the interested party.
CNL Director Latif Ahmed Qureshi told this scribe: "Now, we are going to challenge, in the court of law, the sell-off of PTCL by 'Privatisation Commission', as it has victimised and deprived the employees and management of PTCL of the opportunity of participating in the privatisation process. The PC has also violated the Privatisation Ordinance which allows management and employees buyout, he added.