Aga Khan Group interested in PTDC properties

ISLAMABAD: The Aga Khan group has shown interest in acquiring motels and restaurants of the Pakistan Tourism Development Corporation (PTDC), according to the Ministry of Tourism. 

The Ministry of Tourism informed the National Assembly Standing Committee on Tourism that during a high-level meeting held at the President House that the Aga Khan group has expressed its interest in acquiring 26 motels and restaurants owned by PTDC. They are to be privatised on public private partnership (PPP) mode of privatisation under which 26 per cent share along with management control is to be transferred to the investor.

On April 23, 2007, the Privatization Commission (PC) had invited expressions of interest (EoI) for these properties. They are located at Barseen, Besham, Chatter Plain, Khaplu, Satpara, Astak, Gupis, Phandar, Rama Lake,Gilgit, Hunza, Sust, Bamburet, Birmoglasht, Chitral, Bunni, Mastuj, Chakdara, Panakot, Saidu Sharif, Baffar, Khuzdar, Taftan, Ayubia, Katas and Hawkesbay. 

For all the 12 groups of PTDC motels and restaurants, four parties filed EoIs. They included Serena Hotel, KASB Capital, Syed Tasneem Hussain Naqvi and Pakistan Private Equity Management Ltd, while the details of all other parties, which filed EoI for each group is stated below:

Group 1 (Barseen, Besham, Chatter Plain): Eight parties had filed EoIs, namely, PACE (Pakistan) Ltd, Swat Continental Hotel, Serena Hotel, KASB Capital, Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd, and Petrosin Engineering (Pvt) Ltd.

Group 2 (Khaplu, Satpara, Astak): Seven parties filed EoIs, namely, Serena Hotel, KASB Capital, National Group of Industries, Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd, and Petrosin Engineering (Pvt) Ltd.

Group 3 (Gupis, Phandar, Rama Lake): Seven parties filed EoIs, namely, Serena Hotel, KASB Capital, National Group of Industries, Syed Tasneem Hussain Naqvi, Pakistan Private Equity Management Ltd, Petrosin Engineering (Pvt) Ltd and Target Communications.
Group IV (Gilgit, Hunza, Sust): Eleven parties filed EoIs, namely, PACE (Pakistan) Ltd, Karakoram International University, Serena Hotel, KASB Capital, National Group of Industries, Syed Tasneem Hussain Naqvi, Sardar Builders (Pvt) Ltd, Hashoo Group Ittehad Steel Industries, Pakistan Private Equity Management Ltd, and Petrosin Engineering Pvt Ltd.

Group V ( Bamburet, Birmoglasht, Chitral): Eleven parties filed EoIs, namely, Serena Hotel, KASB Capital, Al-Khalil Enterprises, Sunfort Hotel, Aurangzeb Khan, Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd, Contech International, Petrosin Engineering (Pvt) Ltd and Peshawar Pipes.
Group VI ( Bunni, Mastuj): Seven parties filed EoIs, namely, Serena Hotel, KASB Capital, Sunfort Hotel, Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd and Petrosin Engineering (Pvt) Ltd.
Group VII (Chakdara, Panakot): Eight parties filed EoIs, namely, Serena Hotel, Ghulam Faruq, KASB Capital, Dr Hidayat Rehman & Ayub Khan, Nasir Hussain, Syed Tasneem Hussain Naqvi, Pakistan Private Equity Management Ltd and Petrosin Engineering Ltd. Group VIII ( Saidu Sharif, Baffar): Eleven parties filed EoIs, namely, PACE (Pakistan) Ltd, Swat Continental Hotel, Serena Hotel, Khalid Khan, Caravan Motors, KASB Capital, Syed Tasneem Hussain Naqvi, Sardar Builders (Pvt) Ltd, Hashoo Group, Pakistan Private Equity Management Ltd and Petrosin Engineering Pvt Ltd. Group IX (Khuzdar, Taftan): Seven parties filed EoIs, namely, Saleem & Co, Serena Hotel, KASB Capital Ltd, Syed Tasneem Hussain Naqvi, Pakistan Private Equity Management Ltd, Petrosin Engineering Pvt Ltd and Bezinjo Construction Company, Balochistan. 

Group X (Ayubia): Twenty-one parties filed EoIs, namely, PACE (Pakistan) Ltd, BNP (Private) Limited, Sheikh Allaudin, Serena Hotel, Carvan Motors, KASB Capital, TASS Associates, Sunfort Hotel, National Group of Industries, Abdul Rehman K Abbasi & Associates, Syed Tasneem Hussain Naqvi, Khyber International, ITHFZ Mills Ltd, Sardar Builders (Pvt) Ltd, Hashoo Group, Ittehad Steel Industries, Mian Ilyas Meraj, Pakistan Private Equity Management Ltd, Petrosin Engineering (Pvt) Ltd, Gerry's Travels & Holidays and Nizam Din & Sons (Pvt) Ltd.

Group XI (Katas): Nine parties filed EoIs, namely, PACE (Pakistan) Ltd, Serena Hotel, KASB Capital Ltd, Sunfort Hotel, Jamil & Co, Syed Tasneem Hussain Naqvi, Sardar Builders (Pvt) Ltd, Dhan Cement Industries (Pvt) Ltd and Pakistan Private Equity Management Ltd. Group XII (Hawkesbay): Eleven parties filed EoIs, namely, PACE (Pakistan) Ltd, BNP (Pvt) Limited, Serena Hotel, KASB Capital, Syed Tasneem Hussain Naqvi, Hashoo Group, Pakistan Private Equity Management Ltd, Petrosin Engineering (Pvt) Ltd, Gerry's Travels & Holidays, Nizam Din & Sons (Pvt) Ltd and Saleh & Sons. 

Source - Business Day