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A delegation from OMV AG led by Mr. Wolfgang Ruttenstorfer, Chairman and
CEO called on Dr. Abdul Hafeez Shaikh, Federal Minister for Privatisation &
Investment here today.
The Minister said that Pakistan offered full range options to the investors
through its ambitious Privatisation Program with a level playing field in all
sectors. The process of privatisation and the program was very transparent and
attractive for both local and foreign investors, he said.
Dr. Hafeez Shaikh further stated that the Government was in the process of the
strategic sale of Oil & Gas Company Limited (OGDCL) and Pakistan Petroleum
Limited (PPL) besides the divestment of their shares through the capital
market. We were also trying to unbundled the transmission and distribution
systems of our two gas companies i.e. Sui Southern Gas Company (SSGC) and Sui
Northern Gas Company (SNGPL) prior to their privatisation, he added.
He invited the Austrian company to explore the opportunities being extended in
both the upstream and down stream activities in the Oil & Gas sector for
increasing their presence and interest in Pakistan.
Mr. Wolfgang Ruttenstorfer, Chairman and CEO of OMV AG appreciated the
continuity of the policies, stable economic environment and improved
investment climate and said that the economic growth was providing extensive
opportunities to the investors. OMV being the largest Austrian investor in
Pakistan had so far invested US $ 150 million, which would be increased
gradually in an effective manner, he said.
OMV Chief further expressed keen interest in the privatisation process with a
focus on upstream transaction like OGDCL and PPL.