The Privatisation Commission has announced that it is to sell a 63.91 per cent stake in Pakistan Petroleum which it recently purchased from the UK's Burmah Castrol. The government bought the shares for $5.75 million on 5 September, bringing its total stake in the company to 93.5 per cent. Remaining shares are held by the International Finance Corporation and a local company.

The government was criticised for carrying out private negotiations to purchase the shares. Former petroleum and natural resources minister, under the government of Benazir Bhutto, Anwar Saifullah Khan, said that the purchase went against the government policy of privatisation.

The Privatisation Commission has said that it expects to sell the shares on the stock exchange, timing the sale for a good price.