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Islamabad, March 10, 2003
A five member high level delegation from Kingdom of Saudi Arabia led by Prince
Turkey Bin Abdul Aziz held talks with the Advisor to Prime Minister on
Privatisation & Investment, Dr. Abdul Hafeez Shaikh on matters relating to
Privatisation & Investment opportunities in Pakistan here today.
The leader of the delegation Prince Turkey Bin Abdul Aziz expressed his keen
interest in Banking sector transaction and other transactions in Power and Oil
& gas sectors. He said that Saudi investors were determined to invest in
Pakistan. A number of Pakistani companies were already operating in Kingdom of
Saudi Arabia. We intend to broaden this investment interaction between the two
brotherly countries in a big way, he further stated.
Earlier in his opening remarks Senator-elect Dr. Abdul Hafeez Shaikh, Advisor
to the Prime minister on Privatisation & Investment said that Pakistan had a
liberal approach towards investment and the Government was endeavoring to
further promote and develop its exiting economic relations with Kingdom of
Saudi Arabia by associating the Saudi investors in the Privatisation Program
of Pakistan. Pakistan was focusing on Middle East countries and Saudi Arabia
in particular as the Government and people of Pakistan had strong bonds in
every sphere of life with Kingdom of Saudi Arabia, he added.
While explaining the steps being taken by the government for the satisfaction
and confidence of the investors Dr. Abdul Hafeez Shaikh further stated that
Pakistan was exercising an open and investment friendly policy. He said that
the Privatisation Law provided all kinds of protection to the investment and
the profits earned.
The delegation from Saudi Arabia was briefed about the upcoming major
transactions, including PTCL, HBL, OGDCL, PSO, FESCO, Jamshoro Power Plant,
KESC etc; being offered for privatisation. The Secretary Privatisation
Commission Mr. Ahmad Waqar and senior officials and consultants of PC were
present during the meeting.