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IMF SETS DEADLINE FOR PRIVATIZATION OF PAKISTAN'S PTCL, UBL.

AsiaPulse News

| January 01, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ISLAMABAD, Jan 1 Asia Pulse - The International Monetary Fund (IMF) has given deadline of May 31, 2002 to the government to privatize Pakistan Telecommunication Company Limited (PTCL) and the United Bank Limited (UBL).

According to officials, all necessary arrangements are currently being made to make sure that both PTCL and the UBL are disinvested by May 31.

A decision has been made to disinvest 20 to 26 per cent shares of the PTCL along with transfer of management to a strategic buyer. The Privatization Commission (PC) is hoping to collect US$700 to US$900 million by partially privatizing PTCL which is one of the ...

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Source: HighBeam Research, IMF SETS DEADLINE FOR PRIVATIZATION OF PAKISTAN'S PTCL, UBL.

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