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PC TRANSFERS 10 % SHARES OF EMPLOYEES OF KOHAT CEMENT COMPANY LIMITED TO TRUST

Islamabad, November 26, 2004

Government of Pakistan is strictly following a comprehensive welfare policy for the workers/employees of the privatised industrial units.  All off loaded workers are being given Golden Hand Shake and those who continue to be in service after privatisation, they are offered 10% shares of the Company at discounted rates.

In the case of Kohat Cement Company Limited (KCCL), 245 workers/employees were given Golden Hand Shake.  The remaining 450 workers/employees have been allocated 10% shares of KCCL (11,28,000 shares) at 50% discount from the existing market value.  These shares have been transferred to CDC Account of Kohat Cement Employees Trust.   The workers are informed to approach the Trust to collect the shares.  The Trustees include: 1. Ijaz Ahmed Joint Manager (Finance), 2. Sher Muhammad President (CBA), 3. Muhammad Qasim General Secretary (CBA), 4. Lal Badshah Secretary Information (CBA) 5. Zulfiqar Ahmed Heavy Duty Operator and 6. Tabibullah Assistant Foreman.

All the entitled workers/employees have been advised to collect their shares immediately. With this announcement Privatisation Commission is no more responsible for the above stated retained shares for the entitled workers of KCCL.