PRIVATIZATION & INVESTMENTS

S.M. ABBAS ZAIDI, S.KAMAL HAYDER KAZMI,
Research Analyst
, PAGE
Feb 23 - Mar 01, 2009

LIST OF PRIVATIZATION TRANSACTIONS CURRENTLY INCLUDED IN THE PRIVATIZATION PROGRAMME OF PRIVATIZATION COMMISSION AS ON 18-03-2008

TRANSACTIONS/UNITS

BANKING, FINANCE & INSURANCE OIL, GAS & ENERGY
National Investment Trust Limited (NITL) Oil and Gas Development Corporation
Small and Medium Enterprises (SME) Bank Pak Arab Refinery Limited
First Women Bank Pakistan Petroleum Limited
United Bank Limited Pakistan State Oil Company Limited
Habib Bank Limited Sui Northern Gas Pipe Lines
National Bank of Pakistan Sui Southern Gas Pipe Lines
National Insurance Corporation National Power Construction Company (NPCC)
Pakistan Insurance Corporation Peshawar Electric Supply Company (PESCO)
State Life Insurance Corporation Faisalabad Electric Supply Company (FESCO)
  Jamshoro Power Company Limited (JPC)
ENGINEERING FERTILIZERS
State Engineering Corporation and its units National Fertilizers Corporation
National Construction Limited Hazara Phosphate & Fertilizers Limited
Heavy Electrical Complex  
Pakistan Machine Toll Factory MINERAL & NATURAL RESOURCES
Pakistan Steel Mills Corporation & its units Pakistan Mineral Development Corporation (PMDC)
Pakistan Steel Fabricating Company Limited Lakhra Coal Mines
GHEE UNITS AUTOMOBILES
Ghee Corporation of Pakistan Pakistan Automobiles Corporation
Morafco Industries (Machinery as is where is basis) Republic Motors Limited (Assets)
  Sindh Engineering Limited
TRANSPORT INFRASTRUCTURE
Pakistan International Airlines Corporation Civil Aviation Authority
Pakistan National Shipping Corporation Port Qasim Authority
Pakistan Railways & Its Allied Facilities, factories, workshops etc. Karachi Port Trust
TOURISM National Highway Authority
Pakistan Tourism Development Corporation OTHERS
Services International Hotel Lahore Printing Corporation of Pakistan
PTDC Motels and Restaurants Tomato Paste Plant
CORPORATION & OTHERS (STATUS TO BE DETERMINED)  
State Cement Corporation of Pakistan Trading Corporation of Pakistan
Sate Petroleum Refining & Petrochemicals Corporation (PERAC) Cotton Export Corporation of Pakistan
Pakistan Industries Development Corporation Rice Export Corporation of Pakistan
Utility Store Corporation and its stores Pakistan Engineering Company (PECO)
Export Processing Zone Authority Convention Center, Islamabad
Pakistan Industrial and Technical Training Center  
UPCOMING TRANSACTIONS
Source: Privatization Commission


FOREIGN INVESTMENT INFLOWS IN PAKISTAN
(Million $)
YEAR GREENFIELD INVESTMENT PRIVATIZATION PROCEEDS TOTAL FDI PRIVATE PORTFOLIO INVESTMENT PUBLIC PORTFOLIO INVESTMENT TOTAL FOREIGN INVESTMENT
2001-02 357 128 485 -10 -483 -8.4
2002-03 622 176 798 22 -261 559.1
2003-04 750 199 949 -28 339 1,260.70
2004-05 1,161 363 1,524.00 153 458 2,134.60
2005-06 1,981 1,540 3,521.00 351 613 4,485.00
2006-07 4,873.20 266 5,139.60 1,820 1,468.30 8,428.20
2007-08 5,019.60 133.2 5,152.80 19.3 20.8 5,193.00
2008-09 (July-Dec) 2,327.28 - 2,327.28 -163.81 -24.50 2,138.97
Total 17,091.08 2,805.20 19,896.68 2,163.49 2,130.60 24,191.17
Source: BOI


FDI IN PAKISTAN
($ Million )
YEARS FDI
2001-02 484.7
2002-03 798
2003-04 979.9
2004-05 1524
2005-06 3521
2006-07 5139.6
2007-08 5152.8
Source: Ministry of Finance


FOREIGN PRIVATE DIRECT INVESTMENT CLASSIFIED BY ECONOMIC GROUP
(Million $)
S.N ECONOMIC GROUP JULY-JAN FY08 JULY-JAN FY09 % CHANGE
1 Food 15.7 9.3 - 40.7
2 Food Packaging 1.0 100.5 9,840.5
3 Beverages - 1.3 - 0.5 63.2
4 Tobacco & Cigarettes 5.4 4.1 - 23.5
5 Sugar 7.4 14.1 89.6
6 Textiles 17.6 24.4 38.4
7 Paper & Pulp 1.0 0.0 - 99.8
8 Leather & Leather Products 1.0 1.1 1.1
9 Rubber & Rubber Products 2.7 0.5 - 83.2
10 Chemicals 53.0 31.1 - 41.2
11 Petro Chemicals 7.4 21.8 193.4
12 Petroleum Refining 49.1 64.1 30.5
13 Minning & Quarrying 17.0 12.6 - 25.7
14 Oil & Gas Explorations 366.4 417.9 14.0
Of which Privatization proceeds
15 Pharmaceuticals & OTC Products 25.0 19.3 - 23.0
16 Cosmetics 0.0 0.2 520.7
17 Fertilizers - -  
18 Cement 82.9 30.5 - 63.2
19 Ceramics 0.4 0.4 - 4.3
20 Basic Metals 1.0 3.1 227.3
21 Metal Products 13.7 4.7 - 65.8
22 Machinery other than Electrical 2.2 1.1 - 51.1
23 Electrical Machinery 8.0 7.2 - 9.8
24 Electronics 23.3 12.2 - 47.4
I) Consumer/Household 19.4 2.5 - 87.2
II) Industrial 3.9 9.8 150.7
25 Transport Equipment (Automobiles) 60.5 51.9 - 14.3
I) Motorcycles - 0.0 0.0 128.0
II) Cars 50.8 34.3 - 32.5
III) Buses, Trucks, Vans & Trail 9.8 17.6 80.1
26 Power 37.6 79.7 112.1
I) Thermal 33.0 66.3 100.9
Of which Privatization proceeds
II) Hydel 4.6 13.4 192.8
27 Construction 45.5 27.2 - 40.3
28 Trade 111.7 104.8 - 6.2
29 Transport 45.2 29.1 - 35.5
30 Tourism 1.3 1.3 -
31 Storage Facilities 0.4 0.2 - 63.8
32 Communications 751.2 763.9 1.7
1) Telecommunications 665.8 708.5 6.4
Of which Privatization proceeds 133.2 - - 100.0
2) Information Technology 81.9 53.3 - 34.9
I) Software Development 7.4 15.4 108.2
II) Hardware Development 1.1 0.5 - 52.1
III) I.T. Service 73.4 37.4 - 49.1
3) Postal & Courier Services 3.5 2.0 - 42.4
33 Financial Business Of which Privatization proceeds 684.3 635.2 - 7.2
34 Social Services 11.2 1.1 - 90.4
35 Personal Services 63.2 59.7 - 5.5
36 Others 43.2 54.0 25.0
TOTAL 2,555.3 2,587.7 1.3
TOTAL without Privatization 2,422.1 2,587.7 6.8
Source: SBP


NET INFLOW OF FOREIGN INVESTMENT IN PAKISTAN BY GEOGRAPHICAL ORIGIN
( Million $)

COUNTRY / ECONOMY

JULY-JANUARY FY09% JULY-JANUARY FY08 % CHANGE
TOTAL (I+II) FDI PORFOLIO TOTAL FDI PORFOLIO TOTAL FDI PORFOLIO TOTAL
I. Foreign Private Investment 2,555.3 0.4 2,555.7 2,587.7 -356.0 2,231.7 1.3 -99,412.8 -12.7
Total Private with Privatization 2,555.3 -21.1 2,534.2 2,587.7 -321.4 2,266.3 1.3 -1,420.1 -10.6
Total Private without Privatization 2,422.1 -21.1 2,401.0 2,587.7 -321.4 2,266.3 6.8 -1,422.2 -5.6
Developed countries 1 518.6 137.1 1 655.7 1 261.4 - 290.3 971.1 - 16.9 - 311.8 - 41.3
Western Europe 417.7 - 75.7 342.0 560.8 - 68.0 492.8 34.3 10.2 44.1
European Union 298.2 - 35.7 262.6 305.7 - 38.8 266.9 2.5 - 8.7 1.7
Luxembourg - 0.2 7.4 7.2 - 0.3 11.9 11.6 - 22.3 60.3 61.4
Denmark - 0.8 7.1 6.4 0.4 - 0.6 - 0.3 146.7 - 108.7 - 104.1
France 6.0 - 0.8 5.2 2.9 0.2 3.0 - 52.4 120.4 - 41.8
Germany 54.4 - 2.2 52.3 33.7 - 0.9 32.8 - 38.0 58.5 - 37.2
Netherlands 43.3 7.5 50.7 58.0 9.6 67.6 34.1 28.3 33.2
Sweden 1.9 - 1.7 0.2 21.8 - 1.4 20.4 1 044.0 20.4 10 774.9
U.K 193.6 - 53.0 140.6 189.2 - 57.5 131.7 - 2.3 - 8.5 - 6.3
Other Western Europe 119.5 - 40.0 79.4 255.1 - 29.2 225.9 113.6 27.0 184.4
Norway 20.4 - 20.4 64.3 - 64.3 214.6 - 214.6
Switzerland 99.0 - 40.0 59.0 190.8 - 29.2 161.6 92.7 27.0 173.9
Out of Which Privatization proceeds
North America 969.9 256.5 1 226.3 524.5 - 212.3 312.2 - 45.9 - 182.8 - 74.5
Canada 12.5 0.2 12.7 1.8 0.2 2.0 - 85.9 15.0 - 84.4
U.S.A 957.3 256.3 1 213.6 522.8 - 212.5 310.2 - 45.4 - 182.9 - 74.4
Other developed countries 116.3 - 45.9 70.4 98.4 - 10.0 88.4 - 15.4 78.2 25.6
Australia 37.9 - 48.2 - 10.3 47.8 - 7.9 39.9 26.1 83.5 488.7
Japan 78.4 2.2 80.7 50.6 - 2.1 48.5 - 35.5 - 193.6 - 39.8
Unspecified Developed Countries 14.7 2.3 17.0 77.6 0.0 77.7 427.8 - 99.8 356.5
Developing economies 873.7 - 162.3 711.4 1 051.7 - 32.3 1 019.4 20.4 80.1 43.3
Caribbean Islands 6.7 - 3.3 3.4 - 23.4 9.2 - 14.2 - 448.5 376.5 - 519.3
Cayman Island - 7.0 - - 7.0 - 28.2 - - 28.2 - 300.2 - - 300.2
Bahamas 0.6 - 0.5 0.1 0.8 - 0.1 0.7 30.5 77.4 750.8
Other Caribbean Countries 13.1 - 2.8 10.3 3.9 9.3 13.2 - 70.3 435.0 28.0
Africa 353.6 7.2 360.8 292.9 - 2.2 290.7 - 17.2 - 130.4 - 19.4
Libya 21.6 - 21.6 1.7 - 1.7 - 92.2 - - 92.2
Egypt 7.9 0.1 8.0 11.9 - 11.9 51.4 - 100.0 49.5
Mauritius 319.2 6.5 325.7 279.3 2.7 282.0 - 12.5 - 58.7 - 13.4
South Africa - - - 0.0 - 0.0 - - -
Other African Countries 4.9 0.6 5.5 0.0 - 4.9 - 4.8 - 99.3 - 922.9 - 187.6
Asia 508.9 - 116.4 392.5 655.8 - 39.6 616.2 28.9 66.0 57.0
West Asia 385.2 51.4 436.6 147.4 17.7 165.1 - 61.7 - 65.5 - 62.2
Oman 26.5 0.5 27.0 1.6 - 0.0 1.6 - 93.9 - 101.7 - 94.0
Iran 0.6 - 0.6 1.0 - 1.0 53.8 - 53.8
Kuwait 25.6 30.5 56.2 5.5 11.0 16.5 - 78.6 - 64.1 - 70.7
Bahrain 17.5 2.6 20.1 18.0 0.0 18.1 3.1 - 99.2 - 10.1
Qatar 6.7 0.0 6.7 - 0.4 0.1 - 0.3 - 106.3 1 636.3 - 104.6
Saudi Arabia 27.9 - 1.6 26.3 - 0.5 0.0 - 0.5 - 101.8 100.7 - 101.8
Out of Which Privatization proceeds
Turkey 0.6 0.0 0.6 1.7 - 1.7 194.4 - 100.0 184.9
U.A.E 279.6 19.3 298.9 119.5 6.6 126.1 - 57.3 - 65.8 - 57.8
Out of Which Privatization proceeds 133.2   133.2            
Unspecified West Asia 0.2 - 0.2 1.0 - 1.0 496.8 - 496.8
South, East and South-East Asia 123.7 - 167.8 - 44.1 508.4 - 57.3 451.1 311.1 65.9 1 121.9
Bangladesh 0.1 - 0.1 0.1 0.0 0.1 16.2 - 24.6
China 10.1 - 10.1 - 16.8 - - 16.8 - 266.1 - - 266.1
Hongkong 70.4 - 129.5 - 59.1 85.1 - 29.3 55.7 20.8 77.3 194.3
Malaysia - 2.5 - - 2.5 208.6 0.0 208.6 8 404.9 - 8 405.1
Singapore 21.3 - 38.3 - 17.0 229.5 - 26.6 202.9 978.1 30.6 1 290.1
India 0.1 - 0.1 0.0 - 0.0 - 64.2 - - 64.2
Korea (South) 0.5 - 0.5 1.1 - 1.0 0.1 107.0 - - 89.5
Unspecified South, East & S-E Asia 23.7 - 23.7 0.7 - 0.3 0.4 - 96.9 - - 98.2
Unspecified developing countries 4.5 - 49.8 - 45.3 126.4 0.3 126.7 2 707.2 100.5 379.9
Unspecified 163.0 4.0 167.1 274.5 1.2 275.8 68.4 - 69.1 65.1
II. Foreign Public Investment - 21.5 21.5 - - 34.6 - 34.6 - - 260.9 - 260.9
Equity Securities of which GDRs of OGDC - -   - - - - - -
Debt Securities - 21.5 21.5 - - 34.6 - 34.6 - - 260.9 - 260.9
Source: SBP


LISTING OF INITIAL PUBLIC OFFERING (IPO'S) DURING THE YEAR 2008
NAME OF COMPANY DATE OF PUBLICATION OF PROSPECTUS DATE OF FORMAL LISTING
Arif Habib Bank Ltd (Offer for Sale) Rs. 11 premium per share 12/20/2007 2/11/2008
Invest and Finance Securities Ltd 1/31/2008 3/20/2008
Thatta Cement Company Ltd Rs. 12.5 premium per share 2/16/2008 4/7/2008
KASB Balanced Fund (Open - End) 2/29/2008
Dawood Equities Ltd Rs. 7.5 premium per share 2/26/2008 4/14/2008
Engro Polymer & Chem Ltd Rs. 8 premium per share 5/31/2008 7/21/2008
KASB Islamic Income Fund (Open - End) 7/21/2008
KASB Securities Ltd (Offer for Sale) Rs. 57.50 premium per share 6/21/2008 8/4/2008
Colony Sugar Mills Ltd - 8/13/2008
First Credit and Investment Bank Ltd 6/29/2008 8/21/2008
Arif Habib Inv. Mgt Ltd (Offer for Sale) Rs. 115 premium per share 6/30/2008 8/28/2008
Descon Oxychem Limited 7/30/2008 9/15/2008
ABL Income Fund (Open - End) 9/25/2008
Meezan Capital Protected Fund - I (Open - End) 10/8/2008
NAMCO Income Fund (Open - End) 10/22/2008
Alfalah AGP Alpha Fund (Open - End) 11/28/2008
Alfalah AGP Principal Protected Fund (Open - End) 12/26/2008
Pak Oman Advantage Islamic Income Fund (Open - End) 12/31/2008
Source: KSE