References: www.privatisation.gov.pk

Government of Pakistan Ministry of Privatization Privatization Commission Islamabad, July 31, 2001 NOTIFICATION S.R.O. (I)/2001. In exercise of powers conferred by section 40 of the Privatization Commission Ordinance, 2000 (LII of 2000), read with sections 22 and 25 thereof, the Privatization Commission, with the approval of the Federal Government, hereby makes the following rules, namely :- THE PRIVATIZATION (MODES AND PROCEDURE) RULES, 2001

(2) Subject to the terms of appointment of an adviser, where an adviser has been appointed for the privatization, it shall carry out or advise on any or all of the steps specified in clauses (a) to (f) of sub - rule (1).

4. Approval or rejection of highest ranked bidder. --- (1) Save in the case of a negotiated sale process, the Commission shall carry out a bidding process which is suited to the needs of the privatization with the objective of selecting the highest ranked bidder amongst the bidders that he, - (a) has satisfied the pre-qualification criteria determined by the Commission, if required; and (b) complied with instructions for bidding provided by the Commission to bidders. (2) Upon selection of a highest ranked bidder as specified in sub-rule (1), the Board shall refer the matter for approval, or rejection of such highest ranked bidder with full justification, to the Cabinet.

5. Additional modes of privatization. --- In terms of clause (f) of section 25 of the Ordinance, there shall be the following additional modes of privatization namely:- (a) public offering of shares other than through a stock exchange; and

(b) sale of shares, assets, business and property to a person that has a pre-emptive right to acquire the same (or any part thereof) subject to fulfillment of conditions attached to such rights.

Sher Shah, advocate, PHC, Peshawar

References: Sher Shah, advocate, PHC, Peshawar

Peer Review Comments: The best example of this was the intervention of the chief justice of Pakistan in a steel mill privatization case.

References: Sher Shah, advocate, PHC, Peshawar

Peer Review Comments: The Privatization Commission of Pakistan is involved along with the goverment in extending favoritism and manipulation. For example, see the case of the privatization of Steel Mill Pakistan.

References: Sher Shah, advocate, PHC, Peshawar

References: Sher Shah, advocate, PHC, Peshawar

Peer Review Comments: Not all the assets are fully mentioned in advertisment. For example, see the case of Steel Mill of Pakistan.

References: Government of Pakistan Ministry of Privatization Privatization Commission

Islamabad, July 31, 2001

NOTIFICATION

S.R.O. (I)/2001. In exercise of powers conferred by section 40 of the Privatization Commission Ordinance, 2000 (LII of 2000), read with sections 22 and 25 thereof, the Privatization Commission, with the approval of the Federal Government

Sher Shah, advocate, PHC, Peshawar

References: Sher Shah, advocate, PHC, Peshawar

References: Sher Shah, advocate, PHC, Peshawar

Peer Review Comments: Regulation-related privatization regulations can also be downloaded from the Web site of the Privatization Commission Pakistan. The Privatization Commission itself is involved in manipulation so sometimes hindrances to the receipt of detailed information can also be created. [ LINK ]