The Privatization Board of the Government has approved a pricing mechanism for Selling of its stake in the Pak Re-Insurance Co Ltd.

The ninth meeting of the Privatization Commission was was chaired by Federal Minister Muhammad Mian Soomro and attended by the federal secretary, board members, senior ministry officials and financial advisors.

The Privatization commission gave approval to appointment of a financial advisor to Sindh Engineering Limited (SEL), pricing mechanism to sell of up to 20% of Government’s shares in Pakistan Reinsurance Company Ltd, and modernizing a comprehensive privatization program.

At the meeting, the PC Board approved floor price for the selling off up to 20% of the shares of Pakistan Reinsurance Company Limited. After discussion, the privatization commission approved the mechanism and sent it for Cabinet Recommendation.

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