ISLAMABAD: PTI government mulls privatising the Oil and Gas DevelopmentCompany Limited (OGDCL).
Federal government plan to sell out 10 percent shares of the Oil and GasDevelopment Company Limited (OGDCL) shares under the government’sprivatization initiative.Ad
The decision was made during a meeting to mull over divestment plan of theOGDCL headed by Privatization Commission Chairman Muhammad Mian Soomro andattended by representatives from the company, privatization and petroleumministry officials.
Soomro said that last year it was decided to sell out seven percent sharesof the company. “The revenue earned from the selling out of the shares willbenefit the country’s economy,” he said.
The meeting also discussed in detail regarding the current prices of OGDCLshares and impact of divestment on the company.
The proposal to sell out OGDCL shares under divestment initiative will betabled before the federal cabinet meeting for approval.
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The federal minister also met with the delegation of International FinanceCorporation (IFC) and discussed over the privatization process of thestate-owned entities.
The two sides discussed the the importance of privatization under the primeminister’s initiative for economic revival.
On 17 February, Muhammad Mian Soomro on Monday announced that they weremoving towards the privatization of Balloki and Bahadur shah power plantslocated in the Punjab province by April this year.
