Privatisation Commission Board Concludes 233rd Meeting

Islamabad: The 233rd meeting of the Privatisation Commission Board was held on Friday at the Privatisation Commission. Presiding over the session was Muhammad Ali, Advisor to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.

The board members deliberated on various transaction structure alternatives formulated by the financial advisor, a consortium spearheaded by Jones Lang La Salle Americas Inc (JLL), concerning the privatisation of Roosevelt Hotel Corporation (RHC) in New York. They subsequently finalized recommendations regarding the transaction structure to be presented to the Cabinet Committee on Privatisation (CCOP).

Due to elevated bid prices, the board resolved to annul the bidding process for the appointment of a financial advisor for the privatization of ZTBL. It instructed that the advertisement for hiring a financial advisor’s services be reissued.

Furthermore, the board sanctioned a transaction committee to oversee private sector involvement in three Distribution Companies (DISCOs): FESCO, GEPCO, and IESCO.