HEC privatisation in final stages as pending issues resolved


The privatisation of the Heavy Electrical Complex (HEC) has entered into its final stages after a breakthrough has been achieved in several of the pending matters.

According to a press statement issued on Monday, different options for the determination of Reserve Price for the bidding of HEC shares are currently being considered by the Privatisation Commission (PC), before the bidding process is initiated with the approval of the federal cabinet.

A breakthrough has been achieved in several of the pending matters related to employees and settlement of liabilities due towards the financial institutions.

The PC is ensuring that no further liabilities are added to the balance sheet of HEC while the Ministry of Industries & Production is also playing a positive role to retain the credit rating of the entity.

Also, Power Division is in agreement that no adverse action is taken against HEC by any DISCO. —TLTP

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