The privatization process of 10 percent shares of Oil and Gas Development Company Limited (OGDCL) will begin from Wednesday, Geo News reported.

According to officials of OGDCL, 7.5 percent shares will be sold out in the international market and 2.5 percent shares to the people including 01 percent to its employees.

The process of auction of the shares will be completed from November 05 to 07.

The ministry of finance expects that privatization of 10 percent shares of OGDCL will bring $750 million non-tax income and it will be utilized in the repayment of IMF loan in December.

It may be noted here that Pakistan has to repay $320 million to IMF by the end of December this year.