The News reported that the Cabinet Committee on Privatization approved the Transaction Structure of National Power Construction Corporation and the Transaction Structure of Heavy Electrical Complex.

The Committee met under the chairmanship of Dr Abdul Hafeez Shaikh Federal Minister for Finance and Economic Affairs. It also discussed in detail Benazir Employees Stock Option Scheme.

Privatization Commission said that after due deliberation on this scheme, the CCOP approved 2 out of 5 recommendations made by Privatization Commission whereby Finance Division is to release PKR 10 million on annual basis for BESOS and PKR 1 billion demanded on actual basis to pay the buyback claims in hand.

The CCOP also allowed Privatization Commission to sell minimum 88% of government shares in NPCC and divestment of minimum 96% of government shares in HEC with management control. The CCOP directed PPL Employees Empowerment Trust to surrender bonus shares received by the entity based trust to the PC.

(Sourced from www.thenews.com.pk)