AVN 65.31 Decreased By ▼ -0.86 (-1.3%)
BAFL 30.25 No Change ▼ 0.00 (0%)
BOP 4.63 Decreased By ▼ -0.10 (-2.11%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.50 Decreased By ▼ -0.60 (-4.26%)
DGKC 42.15 Decreased By ▼ -1.54 (-3.52%)
EPCL 46.13 Increased By ▲ 1.48 (3.31%)
FCCL 11.45 Decreased By ▼ -0.38 (-3.21%)
FFL 5.19 Increased By ▲ 0.22 (4.43%)
FLYNG 5.82 Decreased By ▼ -0.28 (-4.59%)
GGL 10.04 Decreased By ▼ -0.34 (-3.28%)
HUBC 63.21 Increased By ▲ 0.91 (1.46%)
HUMNL 5.73 Decreased By ▼ -0.12 (-2.05%)
KAPCO 27.81 Increased By ▲ 0.26 (0.94%)
KEL 2.15 Decreased By ▼ -0.06 (-2.71%)
LOTCHEM 25.37 Decreased By ▼ -1.23 (-4.62%)
MLCF 21.65 Decreased By ▼ -0.87 (-3.86%)
NETSOL 84.95 Decreased By ▼ -1.25 (-1.45%)
OGDC 86.64 Increased By ▲ 0.37 (0.43%)
PAEL 10.96 Decreased By ▼ -0.31 (-2.75%)
PIBTL 4.21 Decreased By ▼ -0.07 (-1.64%)
PPL 78.65 Decreased By ▼ -1.43 (-1.79%)
PRL 13.61 Decreased By ▼ -0.05 (-0.37%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 41.00 Decreased By ▼ -0.75 (-1.8%)
TELE 6.01 Decreased By ▼ -0.20 (-3.22%)
TPLP 16.02 Decreased By ▼ -0.25 (-1.54%)
TRG 111.89 Decreased By ▼ -0.66 (-0.59%)
UNITY 14.01 Decreased By ▼ -0.34 (-2.37%)
WTL 1.14 Decreased By ▼ -0.06 (-5%)
BR100 4,026 Decreased By -48.6 (-1.19%)
BR30 14,402 Decreased By -123 (-0.85%)
KSE100 40,451 Decreased By -396 (-0.97%)
KSE30 15,110 Decreased By -101.7 (-0.67%)
Follow us

ISLAMABAD: The Privatisation Commission Tuesday signed Financial Advisory Services Agreement (FASA) with a Financial Advisor Consortium (FAC) for auction of the government properties.

The Cabinet Committee on Privatisation (CCoP) in its meeting held on March 18, 2021, as ratified by Federal Cabinet on April 1, 2021, decided to initiate auction of the remaining 17 available federal government properties (the first phase of the sale of identified properties ended in September 2020).

Accordingly, the Privatisation Commission Board directed to initiate the hiring process for a financial adviser under the Privatisation Commission Ordinance, 2000 for sale of these 17 federal government properties.

Advertisement inviting Expression of Interest (EOI) for hiring of financial adviser was published in national print media and after scrutiny of interests by the evaluation committee, the Request for Proposal (RfP) packages were issued to shortlisted parties for submitting technical and financial proposals.

Govt received 100 percent amount of 9 privatized entities

The results of the technical and financial proposals were deliberated and approved by the PC Board on 25th November 2021 and a committee was constituted to negotiate Financial Advisory Services Agreement (FASA) with top-ranked party ie, the Consortium of M/s HLB Ijaz Tabassum and Co, Chartered Accountants (Lead), HLB Consulting (Pakistan) (Pvt) Ltd, Vellani and Vellani, and Ocean Surveyors (Pvt) Ltd.

The negotiation committee in its meeting held on December 14, 2021, finalised the terms and conditions of the FASA with the Consortium of M/s HLB Ijaz Tabassum and Co.

After approval of the federal minister/chairman PC, the FASA has been signed on December 28, 2021 with Financial Advisor Consortium (FAC).

The small ceremony was chaired by the secretary Privatisation Commission who urged on diligent performance of financial advisors’ duties under the FASA and timely completion of the transaction.

Copyright Business Recorder, 2021

Comments

Comments are closed.

PC inks FASA with FAC on auction for 17 properties

‘Plan C conspiracy’ Irked by allegation, PPP says will send legal notice to IK

LPG hits historic high of Rs300/kg: LPGA demands setting up of probe commission

50pc duty imposed on import of ‘Mild Hybrid Vehicles’

Al-Nahyan due tomorrow to discuss trade, investment

Flood-hit areas: Rs8.39bn subsidy to be provided to farmers

Pakistan expresses interest in possibility of currency swap with Russia

FBR readies presentation for IMF

Italy’s Meloni in Libya to conclude $8bn gas deal

Ogra rejects oil price speculations

Live debate on economy: Tarin accepts challenge