The process was conducted by the Privatisation Commission in presence of Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment at Islamabad, Thursday.
Three top bidder were: Sadaf Enterprises with an offer of Rs. 72.5 million, SAF & Company Rs. 70.7 million and Nawaz Khan Trading Co offered Rs. 69.6 million.
Next came the second open bidding round where all the three top bidders were request to step up their bids to reach an acceptable level with a multiple of Rs. 0.5 million to the highest offer of Rs. 72.5 million as the floor price.
The second round saw offers of Rs. 110 million from Sadaf Enterprises, Rs. 105 million from SAF & Company and Rs. 89 million from Nawaz Khan Trading Co.
However, none matched the floor price of Rs. 141.705 million.
Now, the ball is in the court of the Board of Privatisation Commission for their recommendations for the CCOP to take the final decision.
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