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EOI for SSGC unit's sell-off can be submitted by 25th

RECORDER REPORT

ISLAMABAD: The Privatisation Commission (PC) on Friday extended the date for submission of 'Expression of Interest (EOI)', for pre-qualification for privatisation of Sui Southern Gas Company Limited's Gas Meter Manufacturing Unit, to March 25, 2000.

The date has been extended because Privatisation Commission could not receive any suitable EOI from any party till due date. The government hopes that the extension will generate more interest among the parties.

The prospective parties have been requested by the PC to send their companies profile and a non-refundable processing fee of Rs 25,000 or $ 500 along with EOI for pre-qualification. Sui Southern Gas Pipeline Limited is a government monopoly in province of Sindh and Balochistan.

Top official sources told Business Recorder that government believes that interested parties will come forward with suitable expression of interest after the revival of relationship with the International Monetary Fund (IMF). The government has received indications that the IMF will resume assistance through a new programme by the end of March.

With a new macroeconomic framework in place the credit rating of Pakistan will definitely go up, they said adding this will encourage investors to invest in the country, therefore waiting for some time more is logical, sources concluded.