MG Morning Breeze: Updates to Skim before Market

Mughal Iron & Steel Industries Limited (PSX: MUGHAL) has obtained a Request for Statement of Qualification (RSOQ) from the Privatization Commission in connection with the sale of GEPCO, according to a digest published by Mettis Global. The company's board has approved its participation in a consortium of four, made up of Fast Cables Limited, AKD Securities Limited, AJCL (Private) Limited and Mughal itself.

The same digest reports that the Cabinet Committee on Privatisation has approved a restructuring plan for FESCO, GEPCO and IESCO, forming the initial group of such companies. The item does not give the value of the GEPCO divestment or the stake each consortium member would hold. GEPCO appears in both items, though the digest does not connect the two.