Cabinet Committee approves inclusion of Fauji Fertiliser Company in PIA consortium
Business
A meeting of the Cabinet Committee on Privatisation was held under the chairmanship of Deputy Prime Minister and Foreign Minister Ishaq Dar
ISLAMABAD (Dunya News) - The Cabinet Committee on Privatisation has approved the inclusion of Fauji Fertiliser Company (FFC) in the consortium.
A meeting of the Cabinet Committee on Privatisation was held under the chairmanship of Deputy Prime Minister and Foreign Minister Ishaq Dar.
The meeting approved the inclusion of Fauji Fertilizer Company Limited in the consortium.
FFC will purchase 33.99 percent of PIA Equity Limited's shares, with Arif Habib Corporation continuing to be the lead consortium member in the PIA privatisation process.
The cabinet committee's decision was sent to the federal cabinet for ratification.
Last December, the consortium had successfully bid Rs135 billion for a 75 per cent stake in the national flag carrier.
The FFC was initially among the bidders but had withdrawn from the process ahead of the auction. It had later joined the winning consortium on December 25.
