DPM/FM Dar chairs CCoP meeting, endorses inclusion of FFCL as an additional consortium member  

ISLAMABAD, March 11 (APP): Deputy Prime Minister/Foreign Minister Mohammad Ishaq Dar, Wednesday, chaired a meeting of the Cabinet Committee on Privatization (CCoP) for the inclusion of Fauji Fertilizer Company Limited (FFCL). 

 The Committee on Privatization, in its meeting endorsed inclusion of Fauji Fertilizer Company Limited (FFCL) as an additional Consortium member, as per approved terms of the bid documents executed with the successful bidder for PIACL i.e. consortium led by Arif Habib Corporation, for PIACL, DPM Office said in a press release.  

FFCL will subscribe to 33.99% ordinary shares of PIA Equity Limited, a special purpose vehicle incorporated by the successful bidder for divestment of PIACL whereas Arif Habib Corporation Limited will remain the lead consortium member.  

The meeting was attended by Minister for Finance & Revenues, Minister Energy, Advisor to the Prime Minister on Privatization, Minister of State for Finance & Revenue, Special Assistant to PM Tariq Bajwa, Secretaries Cabinet, Privatization, Law & Justice and senior officials from Cabinet and other key stakeholders. 

The CCoP’s decision would be submitted for ratification of the federal cabinet.