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Islamabad, March 3, 2003
A four-member investors delegation from Arab Republic of Egypt has expressed
confidence in the economic policies of Pakistan and showed keen interest in
the privatisation program the Government of Pakistan with particular reference
to Telecom sectors. The delegation headed by Mr. Naguib Sawiris, Chairman
ORASCOM Telecom- Egypt had a meeting with Senator elect Dr. Abdul Hafeez
Shaikh, the Advisor to the Prime Minister on Privatisation & Investment here
today.
Dr. Abdul Hafeez Shaikh informed the delegation that most of the targeted entities in the Oil & Gas, Telecom, Fertilizers, Construction and Banking sectors had attracted the potential local and foreign business groups, which was a significant and positive development. Some of these mega entities were now at advanced stage and were near bidding process, he added. While highlighting the salient features of the Pakistan's privatisation program the Advisor to the Prime Minister apprised the delegation about the process of the privatisation and detailed the government's efforts undertaken for facilitating the investors, providing conducive atmosphere and security for their investments.
The members of the delegation expressed that they have confidence in the
existing investment environment in Pakistan. They emphasized the need to
further promote the existing friendly relations between the two countries and
to accelerate the pace of economic interaction. The leader of the delegation
hoped that his visit would help in better understanding of the investment
opportunities in Pakistan. The leader of the delegation reaffirmed their
interest in the telecommunication sector and privatisation of PTCL. The
delegation is focusing to explore new areas of investment among others, in the
fields of cement, fertilizers and domestic tourism promotion. The leader of
the visiting delegation Mr. Naugib Sawiris termed the investment strategy and
privatisation plans as challenging. He said that during his stay he would
explore new opportunities to expand their presence in Pakistan. HE the
Egyptian Ambassador to Pakistan Mr. Hisham El-Zimaity and senior officials of
PC and BOI were also present in the meeting.