ISLAMABAD: The government is likely to delist Mari Oil Company Limited (MPCL) from its active privatisation programme, it arised on Wednesday after the Cabinet Committee on Privatisation (CCoP) asked the Privatisation Commission (COMPUTER) to further examine divestment of 18.39 per cent shares owned by the federal government in the company.
The CCoP meeting, chaired by Preacher for Financing Shaukat Tarin, pondered on the divestment of federal government shares in MPCL and also was of the sight that the Ministry of Oil as well as PC should better take a look at the issue as well as create a detailed proposition for the next board meeting.
According to notified sources, the petroleum ministry is not in favour of divestment of federal government shares as well as has actually relocated a recap asking the CCoP to delist MPCL from the energetic privatisation program.
On Wednesday, the CCoP did not take any type of choice on delisting MPCL and desired even more assessment prior to a decision. It might be remembered that the government cupboard determined in November 2018 to divest 18.39 pc federal government shares in MPCL.
According to official data, MPCL is amongst the chosen blue chip business based on market capitalisation listed at the Pakistan Stock Exchange. Mari Petroleum has 133.40 million show to the cost of Rs1531.30 amounting to Rs204.28 billion.
The CCoP also discussed the proposal for privatisation of Providers International Hotel and after complete discussion accepted the changed get rate based on more authorization by the government cupboard.
The closet committee checked out the proposal for elimination of Pakistan Engineering Company (Peco) from the active privatisation list, and also directed constitution of a board containing agents from PC, Legislation Division, Facility Department, Industries & Manufacturing Department, Finance Department and also the Securities & Exchange Commission of Pakistan to extensively analyse the instance as well as create its proposals on issues highlighted in the meeting.
The CCoP conference was attended by Priest for Privatisation Muhammadmian Soomro and Priest for Industries & Manufacturing Makhdum Khusro Bakhtyar. Advisor to the Prime Minister on Institutional Reforms as well as Austerity Dr Ishrat Hussain, Unique Assistant to the Prime Minister on Oil Tabish Gauhar, and also other elderly authorities of the worried ministries were additionally existing in the conference.