Floor Price of OGDCL’s per share approval at Rs 216

Islamabad(Friday, November 07, 2014): Federal cabinet Privatization Committee Oil and Gas Development Company Limited (OGDC L) of Rs 216 per share, to set the floor price is approved.

Privatization Commission in Islamabad, was held at the office of the Minister for Finance, Privatization Committee meeting via video link from Dubai to Dar chaired the meeting and 10% of the shares of OGDCL plans to set floor price will be completed.

Finance Minister legislator Ishaq Dar, World Health Organization is in Dubai for attending theUnited Nations agency talks, chaired the meeting through telecommunication link. After elaborate deliberations, the committee accorded approval for a floor value of Rs 216 per share ascounseled by the Privatisation Commission.

The approval was conjointly accorded for three-day Book Building method with floor value to be applied before gap of Book on Nov half-dozen, 2014. As united with the money informatoryCommission (FAC), Book Building was launched on day and would conclude on Nov seven at ten PM.

“Offering national foundations is not in light of a legitimate concern for individuals,” he said, including that the OGDCL was a joint property of the central government and territories. The national government couldn’t offer out OGDCL in light of the fact that according to constitution benefit making elements couldn’t be sold out, he contended.

Consequently, he asked for the court that administration ought to be ceased from privatizing OGDCL. Petroleum Minister Shahid Khaqan Abbasi, Khurram Dastgir and Foreign Trade Minister Rashid also participated.