Govt sells all Allied Bank shares for 14.4 billion rupees
The shares earned government foreign direct investment worth 32 million dollars
ISLAMABAD: (Dunya News) – Government has sold all the shares of Allied Bank Limited in its possession for Rs. 14.4 billion, Dunya News reported. Shares earned government foreign direct investment worth USD 32 million.
While holding a press conference in Islamabad on Friday, Chairman Privatization Commission Muhammad Zubair told that the process of selling Allied Bank’s 131 million shares has been completed. The shares have been sold at the rate of 110 per share and have earned government Rs. 14.4 billion. He told that now the government has no shares in Allied Bank just like United Bank Limited.
Muhammad Zubair told that the privatization process of Pakistan International Airline (PIA), Railways, Steel Mills, FESCO, LESCO and other organizations is also going at good pace. Responding to a question, Zubair told that a further decline in petroleum prices is also expected this month.
He said that talks have been started to resolve the political crisis and the nation will get a good news soon.
