Process Of Privatization

Privatization Commission takes through some procedural steps to accomplish its process. Below are its details:

Direct sale through tender Invites international tender for investors providing around one and a half month’s time for participation in the tender. Sale of Shares Shares are off-loaded as per provision of the privatization policy 2001 and the Memorandum and Articles of Association of the concerned companies.

	The privatization process shall entail the following procedural steps:
	(i)     The government in consultation with the Commission, design policy on privatization of public industrial and commercial enterprises, and bring them in public through press & media.
	(ii)    Government in line with the policy perused identifies SOEs for privatization and hand it over the list to the privatization commission for action.
	(iii)   The Commission upon receipt of the list, makes proper valuation of SOEs through the nominated/enlisted relevant agencies.
	(iv)    Before finalization of the report, the Commission shall sit for discussion with, the representatives of the Ministry, Division, Corporation etc. for decision.
	(v)      Upon the finalization of the valuation report, the Commission shall invite tenders for the transfer of SOES.
	(vi)    Interested local and foreign buyers shall be eligible to participate in the tender.
	(vii)   In the case of transfer of shares of any public industrial or commercial enterprise, the shares concerned may be transferred either directly through tenders or through the stock exchange.
	(viii)  The Commission shall invite fresh tenders if, no bid is received, or the prices quoted in the tenders received is not acceptable.
	(ix)    The government shall, in the process of conducting any agreement in relation to privatization, take necessary measures to secure the safety of the officers/employees/workers of any enterprise or organization.
	(x)     When the transfer process for privatization shall be at the final stage the Commission, shall submit its recommendations to the government for approval before signing the necessary transfer document or contract.
	(xi)    The privatization commission , by itself, shall, after receiving the recommendations, conclude the transfer document or agreement.
	(xii)   Money received from privatization of any enterprise or organization shall be deposited to the consolidated fund of the Republic.
	(xiii)  Money received from privatization shall first be used to meet the outstanding loans and liabilities of the enterprise/organization concerned.

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