PRESS RLEASE
PC ISSUES POLICY GUIDELINES FOR PRIVATISATION THROUGH CAPITAL MARKET TRANSACTIONS
Islamabad, February 19, 2011
In compliance to the decision of the Cabinet Committee on Privatisation (CCOP), the Privatisation Commission (PC) has issued the Policy Guidelines for privatisation through Capital Market Transaction, which were approved by the CCOP in its meeting held on February 3, 2011, which reads as follows:
"In terms of the Privatisation Commission Ordinance 2000, Privatisation includes a transaction by virtue of which any property, right, interest, concession or management thereof is transferred to any person from the Federal Government or any enterprise owned or controlled, wholly or partially, directly or indirectly, by the Federal Government. The Privatisation Commission is, therefore, mandated to divest title, interests, rights, ownership and control in the SOEs by means of various modes of privatisation. Section 25 of the PC Ordinance stipulates that the Commission shall carry out privatisation, in accordance with the prescribed procedure, through any of the modes, including sale of assets and business; sale of shares through public auction or tender; public offering of shares through a stock exchange; management or employee buyouts by management or employees of a SOE, lease, management or concession contracts; or any other method as may be prescribed.
2. Pursuant to section 25(c) stated above, Privatisation Commission has been proactively pursuing a policy of supporting capital market development through the sequenced divestment of shares in state owned companies through stock exchanges in both domestic and international markets, taking into account stock market conditions and investor demand.
3. In view of the foregoing the following policy outlines were approved by the Cabinet Committee on Privatisation (CCOP) on 3rd February, 2011:-
1. The privatisation policy of supporting capital market through the sequenced divestment of shares in SOEs through domestic and international stock exchanges. Divestment of SOE's through capital market transactions will add depth to the local capital market and will provide shared ownership to both retail and institutional investors.
2. The public offerings through Stock Exchanges and International listings (GDRs) will be done on case-to-case basis tailored to the circumstances of each enterprise. It is emphasized that only careful packaging, timing and sequencing can give best results.
3. Where found expedient, the entity will be listed before adoption of the PPP privatisation mode to benefit, from amongst others, capital market price discovery mechanism.
I. If you want to receive individual emails
II. Receive one mail with all activity in it
III. Do not want to receive any mail at all
Regards,
Tariq Khattak, Group Manager,
GSM = 0300-9599007 and 0333-9599007
+92-300-9599007 and +92-333-9599007
Tariqgulkhattak@gmail.com
Tariqgulkhattak@hotmail.com
REQUESTS:
1)Please directly contact sender for personal/individual correspondence.
2)Try to discuss issues that will catch attention of many readers.
3)Please avoid sending messages in any language other than English
4)Avoid sending messages addressed to many recipients.
5)Do not send messages aimed at personal publicity.
6)Please do not send personal/other links unless necessary.
7)The Group is not obliged to publish printed news,
very short/long comments and objectionable material.
8)Every mail cannot be published; it will overload Mailboxes
of our valued members.
9)Try to Disagree Without Being Disagreeable, Unsympathetic and/or Unpleasant.
x==x==x==x==x==x
Please note that,
It is a common platform for journalists and all others who are interested in knowing about the issues that are sometimes not reported. This group favours philosophy of progress, reform and the protection of civil liberties. Please share and educate others. The owners and managers of this site do not necessarily agree with any of the information. It is an open forum; everyone is allowed to share anything. Mails sent by members and non-members are subject to approval. However, we are not responsible in any way for the contents of mails / opinion sent by members. We do not guarantee that the information will be completely accurate. (Nor can print and electronic media). If you find content on this site which you feel is inappropriate or inaccurate, incomplete, or useless you are most welcome to report it or contradict it.
Thanks a lot.
0 comments:
Post a Comment
Gujranwalafun@Aol.com
Gujranwala@windiowslive.com