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The Federal Minister for Privatisation & Investment Dr. Abdul Hafeez Shaikh
said that Pakistan had opened up all sectors for fresh investments without any
restrictions and discrimination regarding the investment & privatisation
opportunities being extended to reach the private sector. The Minister stated
this during a meeting with the Ambassador of Sudan to Pakistan Mr. Daffa-Alla
Elhag Ali Osman, who called on the Minister here today.
Dr. Hafeez Shaikh stressed the need to boost the existing relations between
the two brotherly countries. He assured full support on behalf of the
government to bring more closer the people and the private sector of both
countries.
Dr. Hafeez Shaikh further stated that Pakistan provided attractive
Privatisation and Investment Programmes with remarkable incentives for the
local and the foreign investors. He added that the series of overseas
investment conferences were providing an opportunity to the business groups
and the investors to identify their fields of interest and to boost the
economic ties.
He said that we were marketing our Privatisation Program smoothly and
successfully due to the improvement in the investment climate at home and the
better image of the country at abroad. The process of privatisation was simple
and most transparent, the Minister stated.
During the last two years of the present elected government the
privatisation worth Rs. 50 billion was conducted, which included the
divestment of government shares in certain Public sector entities through
the Stock market to strengthen, deepen and broaden the base of the capital
market and to transfer the benefits of privatisation to the common man besides
the sale of other public sector entities while the privatisation of mega
projects like Pakistan Telecommunication Company Limited, National Refinery
Limited, Pakarab Refinery, Faisalabad Electric Supply Company and
Wapda's Jamshoro Power generating Unit were at an advanced stage for handing
over these entities to the quality players through a transparent, competitive
process and providing a level playing field, he informed.
He said that there existed tremendous scope of cooperation between the two
countries and the potential needed to be realized. We look forward to the
Sudanese investors groups to visit Pakistan and to explore and identify the
investment & privatisation opportunities and to take advantage of the
facilities being extended to the private sector, he said.
The Sudanese Envoy Mr. Daffa-Alla Elhag Ali Osman said that Sudan has full
confidence in Pakistan and its leadership and we intended to promote the
existing interaction between both the countries in all the sectors of economy.
Sudan has granted three exploration concessions to a Pakistani Oil exploration
company and two Pakistani companies were allowed to work in the pharmaceutical
sector while in the fields of textile, construction and tourism Pakistani
business groups would be encouraged, he said. The envoy extended invitation to
the Minister to head business delegation to Sudan to explore prospective
sectors. He remained with the Minister for some time and also discussed
matters of mutual interests in the potential areas.