October 21, 2017 10:31 AM ET

Commercial Services and Supplies

Company Overview of Fauji Foundation

Company Overview

Fauji Foundation, also known as Fauji Group, is a charitable trust that generates funds and offers welfare services including health care, education, and vocational/technical training for the ex-servicemen and their dependents. The institution was founded in 1954 and is based in Rawalpindi, Pakistan.

68 Tipu Road

Chaklala

Rawalpindi,  46000

Pakistan

Founded in 1954

Phone:

92 51 595 1821

Fax:

92 51 595 1732

Key Executives for Fauji Foundation

Fauji Foundation does not have any Key Executives recorded.

Fauji Foundation Key Developments

CCOP Takes Decisions On Privatisation Of Entities

On January 27, 2017, The Cabinet Committee on Privatisation (CCOP) took decisions on potential privatization of government entities. The government decided to float shares of Gujranwala Electric Supply Company Limited to raise money for bridging the budget deficit. It also approved the transfer price for selling remaining stake in Mari Petroleum Company Limited (KASE:MARI), the government put off a decision on offloading 5% more shares in Oil and Gas Development Company Limited (KASE:OGDC) as the timing was not considered appropriate. The CCOP approved divestment of 18.3% government shareholding in Mari Petroleum Company Limited either through joint-venture partners including Fauji Foundation and Oil and Gas Development Company Limited or the domestic stock exchange.

The Government Of Pakistan Planning To Privatise Six Public Sector Enterprises

The government of Pakistan is planning to privatise six public sector enterprises. The government of Pakistan is planning to privatize five public sector enterprises including Kot Addu Power Company Limited (KASE:KAPCO), Telephone Industries of Pakistan, Pakistan Steel Mills Corporation (PVT) LTD., Mari Petroleum Company Limited (KASE:MARI), SME Bank Ltd. and Industrial Development Bank Limited in calendar year 2017. According to the plan, the expected date for privatisation of Pakistan Steel Mills is June 2017. At present, the Privatisation Commission is finalising the transaction structure of the Pakistan Steel Mills and as soon as it is finalised, it would be submitted with the Privatisation Commission Board and Cabinet Committee on Privatisation for its approval. The expected privatisation date for Kot Addu Power Company is also June 2017. The Privatisation Commission Board in its meeting held on July 11, 2016, recommended the transaction structure as presented by the financial advisor for the Kot Addu Power Company to Commission Board and Cabinet Committee. Expressions of Interest were invited from investors through national and international newspapers on July 15, 2016. At present, the transaction is under consideration of the Commission Board and Cabinet Committee. The privatisation of SME Bank is expected by March 2017 as financial advisors are working on a draft transmission structure, which would be submitted with the PC Board for its approval. The PC plans to publish advertisement, inviting expression of interests from prospective investors by end-December 2016. The Privatisation Commission intends to complete the privatisation process of SME Bank in the fiscal year ending March 31, 2017. The government is planning to privatise the Industrial Development Bank by end-September 2017 and an advertisement inviting Expressions of Interest from financial advisors would be published by the start of January 2017. The Privatisation Commission Board in its meeting held on July 11, 2016, also approved to initiate the privatisation of Telephone Industries of Pakistan, subject to provision of Telephone Industries Pakistan accounts till June 2015. However, the same are still awaited and the privatisation process is yet to be initiated for this reason. The Commission Board and Cabinet Committee in its meeting held on May 7, 2016, approved divestment of government shareholding in Mari Gas Petroleum Company either through the JV Partners which are Fauji Fertilizers and Oil and Gas Development Company Limited or stock market. The JV Partners, namely Fauji Foundation and Oil and Gas Development Company, are entitled to first right of refusal under the relevant clauses of participation and shareholders agreement. The Privatisation Commission will serve the transfer notice to JV Partners by December 2016. The Privatisation Commission intends to complete the divestment of Mari Petroleum Company by end March 2017.

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