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| Wednesday, 21 January 2004 |
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PERC to hire local consultants for WB assignments By Chamitha Kuruppu The Public Enterprise Reform Commission (PERC) is in the process of hiring Local Consultants to provide Financial Advisory services for future privatisation and restructuring related projects funded by the World Bank. PERC will short list six qualified local consultants and look forward to carry out the short-listing every year, Director General Manjula de Silva told the Daily News yesterday. By hiring these six consultants we look forward to quick implementation of assignments funded by the World Bank, de Silva said. Meanwhile, PERC will take measures to hire foreign consultants when required. "We will do it on a case by case basis," he said. Financial Advisory Services for other assignments will be carried out as usual. Investment Banks, Merchant Banks, Audit Firms and other qualified institutions are required to submit their applications for EOI on February 9. PERC on Monday said that government has received Credit from the International Development Association (IDA) of the World Bank, and intends to apply part of the proceeds for the payment towards the Consultancy Services Once the short listing is completed in respect of identified enterprises selected for restructure, Requests For Proposals (RFPs) will be issued to the short-listed firms. The final selection of a Consultant in respect of each enterprise will be made, based on the proposals received in response to the RFPs. The core activities of this Consultancy will include assisting in the conversion of a public corporation to a public company, preparing opening balance sheets for the converted company, carrying out a valuation of the company using both asset-based and earnings-based approaches to business valuation,preparing a Request For Proposals (RFP), Information Memorandum (IM) and such other documentation. |
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