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Cabinet Committee on Privatization approves transaction structure for Habib Bank Ltd, National Power Construction Company

Islamabad, February 10, 2015 (PPI-OT): The Cabinet Committee on Privatization in its meeting chaired by Finance Minister, Ishaq Dar here on Tuesday had detailed deliberations on the proposed transaction structure for divestment of GoP shares in HBL and the National Power Construction Company.

Federal Ministers for Information, Pervaiz Rashid, Commerce, Khurram Dastgir, Planning and Development, Ahsan Iqbal and Minister of State for Textile Industry, Abbas Khan Afridi and senior officials from Ministry of Finance, SECP, Privatization Commission, SBP, Planning and Development and other deptts/organizations attended the meeting.

Chairman Privatization Commission briefed the meeting about the proposed mechanism for divestment of GoP shares in HBL and NPCC. The Finance Minister observed that all out efforts should be made for securing best price for HBL shares as it was a prime financial institution of the country having significant international standing.

CCOP approved the transaction structure proposal for HBL transaction (Sale of GoP shares in HBL). With the consensus of the house, the Finance Minister gave instructions for further discussions on NPCC proposal at the CCOP meeting next Friday.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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