The Cabinet Committee on Privatisation earlier yesterday approved floor price of Rs216 per share for disinvestment of up to 10 per cent government shares in OGDCL through international and domestic capital markets.
The floor price was recommended by the Privatisation Commission to the cabinet committee. On Thursday, the commission notified to the stock exchanges in Karachi, Lahore and Islamabad the sale of 311,174,800 shares (7.5 per cent government holding in OGDCL) at minimum floor price of Rs216 per share, and through this sale, the government is expected to fetch an amount of Rs67.214 billion.
Finance Minister Ishaq Dar, who is currently in Dubai for talks with IMF, chaired the meeting through video link.