Wasi promises privatization process as per schedule
By Khalid Amin

ISLAMABAD—Federal Minister for Privatization & Investment Muhammad Wasi Zafar on Wednesday said that the privatization process needed to be taken forward as per the schedule drawn for the year 2007-08 in which various entities were to be privatized and some IPOs and GDRs were envisaged.
He stated in a meeting of the Board of Privatization Commission under the chairmanship of Muhammad Wasi Zafar Federal Minister for Privatization & Investment here on Wednesday.
The PC Board reviewed progress on various transactions and expressed satisfaction on the progress being made on these transactions.
Various transactions were discussed by the Board who decided to invite Expressions of Interests (EOI) from the investors for the sale of shares of Pakistan Machine Tool Factory (PMTF) and Hazara Phosphate & Fertilizers Limited (HPFL).
The PC board was given an update on the implementation status of the privatization process of various ongoing and upcoming transactions, which included Printing Corporation of Pakistan (PCP) and divestment of KAPCO shares through GDR.
The Board also reviewed progress and status of various ongoing and upcoming transactions and deliberated upon the various options for divestment of shares of various entities in the international capital market.
Representatives from BMA Capital Management and Citi Group gave detailed presentation on Capital Market instruments, which could be used as effective tools in tapping Global investment.
Members of the Board of the Privatization Commission, senior officials of the respective Ministries and departments attended the meeting.