Fiscal advisor for SOEs to be hired

ISLAMABAD: After taking on board the management of the respective entities and the concerned ministries, the Board of the Privatisation Commission (PC), which met here Wednesday under the chairmanship of Senator Waqar Ahmed Khan Federal Minister for Privatisation gave go ahead for inviting Expressions of Interests (EOIs) for appointment of Financial Advisors for Pakistan Post Offices Departments (PPOD), National Power Construction Company (NPCC), Heavy Electrical Complex (HEC) and the listing of Islamabad Electric Power Company (IESCO) on the Stock Exchange for its Initial Public Offering (IPO).

The financial advisors will valuate these entities and suggest the best possible option for taking the transaction forward for their value addition, including corporatisation, revamping, revitalisation, management outsourcing through Public-Private-Partnership (PPP), divestment of shares through domestic and international capital markets. The PC board formed various transaction committees for these entities comprising on PC board members to monitor the progress of the process for ensuring utmost transparency and satisfaction of the all the respective stakeholders.-Online

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