ISLAMABAD - The budget of the National Logistic Cell for the financial year 2011-12 was approved in the 47th National Logistic Board meeting chaired by the Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Shaikh on Thursday. The budget showed that National Logistic Cell has earned a net profit of Rs.3.9 billion with an 11 per cent increase from the last years 10 per cent. The gross profit amounting to Rs5,893 million shown in the budget is 17 per cent increase as compared to last years 15 per cent. At the same time the operating cost decreased this year from 85 per cent to 83 per cent. Earlier the meeting centered around a request for acquisition of the National Power Construction Company which is a public sector organisation and currently enlisted on the privatisation process. NPCC has expanded its operation in Saudi Arabia and successfully completed high value targets with 290 km long 380 KV transmission connecting Madina to Red Sea Coast. The NLB requested the Minister for Finance that the NLB be given a chance to acquire the overseas set up of the company. The Minister assured them that their company will be assisted in their bidding for the privatisation of the NPCC, however, he added that he will not make any assurance that their bid be accepted in the due process as the highest bidder will be accepted. Later the Minister appreciated the good work by the leadership at the National Logistic Cell as the company has started showing financial discipline and asset consolidation. He urged for more efforts in this direction to make the organisation more and more competitive. Congratulating the National Logistic Cell on the approval of the budget he said that there is need for increasing profit margin from 11 per cent to 12 per cent this year as there is space for it in this organisation.