|
|
|
|
|
A team from Fauji Foundation led by its Managing Director, Lt. Gen.(Retd)
Amjad Hussain, held a meeting with Dr. Abdul Hafeez Shaikh, Federal Minister
for Privatisation & Investment here today in connection with the privatisation
of PSO. Fauji Foundation is one of the potential bidders interested in the
acquisition of PSO.
The Minister said that Pakistan State Oil (PSO) is one of the most important
transactions in the current privatisation program, which includes Habib Bank,
Faisalabad Area Electricity Company, Jamshoro Power Company, PTCL, Fertilizer
Units etc. In this regard he reiterated Government's commitment to
privatization and deregulation. He also stated that while privatizing these
entities, Government would ensure that genuine national interests are
safeguarded.
Dr. Hafeez Shaikh said that transparency was being observed at every stage of
the privatisation process and a level playing field will be provided to local
and foreign investors alike. Our target was to maximize the sale proceeds from
the sale of these assets and to bring in quality players for improving the
services through private sector professional management, he said.
All the substantive issues relating to the transaction had been largely
resolved, he said. In this regard he appreciated the interest and commitment
of the Fauji Foundation to the process and said that it would serve to
encourage other local business groups to participate and avail the
opportunities in the privatisation program.
Lt. Gen. (Retd) Amjad appreciated the process and the professionalism
demonstrated by the Privatisation Commission and hoped that the privatisation
of PSO would further develop the petroleum sector and generate new business
opportunities in the country.