Privatization of OGDCL to be completed by September 2014

Chairman Privatization Commission Board has assured that Oil and Gas Development Company Limited (OGDCL) transaction will be completed by September 2014. In this regard, the Board will approve the transaction structure of ten percent of government owned shares on 21st July.

The minister of state and chairman Privatization Commission Board, Mohammad Zubair had earlier informed Finance Minister Ishaq Dar that the work on the OGDCL transaction is being done on the fast track and the transaction will be completed by September, 2014.

 Mohammad Zubair has summoned the meeting of the  Privatization Commission Board on July 21, 2014. According to agreement between International Monetary Fund (IMF), government owned 10 per cent shares of OGDCL will be made available to the Pakistani and international investors simultaneously. These shares will be sold in the form of GDRs to the international investors.

OGDCL shares will be sold after launching aggressive marketing campaign in foreign countries to get the maximum price.

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Posted by Khalil Khan on Jul 9 2014. Filed under Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.