Heavy Electrical Complex expected to be privatised by June
Business
February 19, 2021
ISLAMABAD: The government is expected to complete the privatisation of Heavy Electrical Complex (HEC) by the mid of the current year as it has already shortlisted investors for issuance of request for statement of qualification, officials said on Thursday.
The officials told a weekly meeting on privatisation transactions that 12 expressions of interest had been shortlisted for HEC. The meeting was chaired by Minister for Privatisation Mohammedmian Soomro.
In November last, Cabinet Committee on Privatisation approved the transaction structure for the divestment of 96.6 per cent shares of HEC. This was the seventh transaction approved since the start of the privatisation plans adopted in October 2018.