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In line with the process of the privatisation of public sector entities,
for better understanding of the transactions, a delegation of Kuwait Petroleum
Company (KPC) led by Mr. Nader Sultan CEO, a potential bidder for Pakistan
State Oil (PSO) held a meeting with Dr. Abdul Hafeez Shaikh, Federal Minister
for Privatisation & Investment here today.
During the meeting the Minister appreciated the interest being shown by KPC
and said that the people of Pakistan have lot of goodwill for the friendly and
brotherly country Kuwait and its institutions.
He said that Pakistan attached great importance to this exciting transaction
and its process was being kept very transparent and efforts were under way to
bring the transaction close to the bidding point in consultation with all the
potential bidders. All the substantive issues relating to the transaction had
been largely resolved and now a final date for it's bidding, keeping in view
the logistic comfort of the investors, would be agreed and announced soon, he
said.
Mr. Nader Sultan, CEO, KPC appreciated the process and the professionalism
being demonstrated by Privatisation Commission and said Kuwait looked forward
to have strategic links with an important country like Pakistan.
The Secretary PC Mr. Ahmad Waqar briefed the potential bidder regarding the
bidding process and other related details. The KPC delegation during their
stay in Pakistan will hold meetings with the PC officials and PSO management.