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235 buyers bid for 101 Pak units
ISLAMABAD. Oct (8 : Pakistani authorities said on Thursday they had received 235 offers for 101 state enterprises offered for sale in a missive privatisation programme and called the response excellent, reports Reuter.
The Chairman of the government's Privatisation Commission, Saeed Qadir, tokl reporters it would take some days to process the offers before he could identify the bidders. who he said included some foreigners
Commissioner officials opened tenders for the enterprises earlier in the day on the expiry of the deadline for receiving the offers.
The 101 offered for salc werc in the fields of processing 'ghcc' or <-ook1ng oil (22); bread-making (17), cement (15). chemical and ceramic (12), engineering (9), rice (8). iutomobilc(7). fertilizer (5)
and miscellaneous (6).
No offers were received for 12 units for which fresh offers may be invited late, Qadir said. They were three fertilizer plants, two each of chemical and ghee" plants, one cement plant and four miscellaneous
But Qadir said : the com mission feels the response has been excellent.'
"Prime Minister Nawaz Sharif seeks to raise billions of Dollars for much needed de velopmcnt by privatising enterprises he says have not been running efficiently under state control.
But Premier Benazir Bhutto's opposition alliance opposes the programme which it says is a scheme by Sharif to sell the enterprise cheaply to his favourites.
Sharif’s government, which denies the charge. Is already facing widespread crittcims
over a multi-million Dollars scandal of financial cooperatives run by ruling party mcm-bers.
Qadir declined to give a to-til value of the units offered or , of the Individual units which he said had been evaluated.
However balance sheets of the individual units had been supplied to prospective bidders.,
"We have no reserve price (of the units),' he said. But he said his commission would decide about the offers in consultation with the government.
Many of the enterprises offered for sale were natfon-altscd In the 1970s by Bhutto's father, then Prime Minister Zulfikar Ali Bhutto, who was toppled in a 1977, military coup and later executed.
Two of the six state-run commercial banks have already been sold and at least two more are to be sold later.