PC Board approves pricing mechanism for divestment shares of Pak-Insurance Company.

ISLAMABAD -- The Board of Privatization Commission here Tuesday approved pricing mechanism for divestment of Government of Pakistan's shares In Pak Re-Insurance Company Limited.

The 9th Privatization Commission, Board meeting of the current year held under the chairmanship of the Federal Minister and Chairman Privatization Mohammedmian Soomro. Federal Secretary, Board members, senior officers of the ministry and financial advisers attended the subject meeting, said a press release.

Various important issues including hiring approval of financial adviser for Sindh Engineering Limited (SEL) transaction, approval of pricing mechanism for divestment of up to 20% of government shares in Pakistan Re-Insurance Company and update on the overall privatization program were discussed.

In the meeting pricing mechanism (floor price) for divestment of up to 20% government shares in Pakistan Re-Insurance Company Limited was presented for approval of the PC Board. After deliberations, the board approved the proposed pricing...