A report for the pre- qualification of the investors for the revival of PSMC was submitted by the privatization commission board during a meeting. Six parties were said to have submitted the statement of qualification earlier. These parties included international investors and businesses. The meeting was held in order to examine the said parties for the investment in the project. The meeting was attended by the federal secretary of privatization and the board members of CDA.
The matter regarding the commercialization of the Jinnah convention center, that had been reviewed earlier, was also discussed in the meeting. It was decided that the CDA and the FAs from the ministry of privatization would review the cost and finances of the infrastructure regarding the center and the charges will be paid by the successful investor after the bidding. The financial evaluation will be done within two weeks.
The board, after extensive discussion during the meeting with all the attendees, decided to extend the date of bidding as requested by the potential buyers. Meanwhile, the members of the meeting were also updated on the legislative matters and the financial transfer methods under consideration. The legal team was advised to pursue the matter efficiently. The extension of the bidding date was done keeping in consideration the need for more foreign investors to get involved. The privatization of the house building finance company limited (HBFCL) was also discussed in a meeting held later on. The invitations of EOIs were re-advertised on January 17th, 2022, in order to increase the amount of potential investors. It was agreed upon that the extension of the bidding date would prove beneficial in this regard as well.
