Staff Reporter Islamabad
Federal Minister for Privatisation Mohammedmian Soomro chaired a second pre-bid meeting of Heavy Electrical Complex (HEC) in Islamabad on Wednesday.
Federal Secretary Hassan Nasir Jamy, representatives of HEC, Ministry of Industries & Production, Financial Advisors, bidders, legal advisors attended the meeting.
The first meeting was held in August 2021 and the queries raised by the potential bidders regarding bidders’ qualification, bidding process and payment structure etc. were addressed.
Federal Minister Mohammedmian Soomro said that the transaction of HEC is in its concluding stage and we are resolving the pending matters related to the transaction completion along with facilitating the potential investors. The HEC transaction/bidding is likely to be completed very shortly.
A detailed presentation was made to the four pre-qualified bidders, and the queries from them were addressed, the earnest money for this transaction was approved and accepted by the bidders is PKR 50mn.
