Four pre-qualified parties for the privatisation of Pakarab Fertilisers (Pvt) Limited (PFL) participated in the first round of the pre-bid conference under the chairmanship of Salim Gul Shaikh, Secretary Privatisation Commission, on Monday in Islamabad.
The four parties included Nishat Chunian Limited/Umer Fabrics, Fatima Group of Companies, Dawood Hercules Chemical Limited and Employees Management Group which is conditionally pre-qualified.
Ministry of Industries & Production, IPIC and NFC representatives were also present in the meeting.
The pre-bid conference was held at Privatisation Commission for the privatisation of Pakarab Fertiliser (Private) Limited (PFL) through the sale of 94.8 percent shares on 'as is where is' basis.
The PC decided to hold the Second round of pre-bid meeting in the last week of May 2004 after the completion of due diligence of the transaction, which is expected to commence from April 26. Every participant will be given one week's time to complete the due diligence process.
Pakarab Fertilisers (Private) Limited is 52 percent GOP owned public company (through National Fertiliser Corporation), located at Khanewal Road, Multan in the Punjab Province. International Petroleum Investment Company of UAE (IPIC) owns the balance 48 percent shares.