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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 Tunisia to Pakistan Mr. Lamine
BENZARTI, who called on the Minister here today.
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. There was a need to accelerate the pace of trade, investment
and economic interaction between both the friendly countries, he added.
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 first year of the present elected government the privatisation
worth Rs. 17 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 strategic
sale of 51 % shares of Pakistan's second largest commercial bank Habib Bank
Limited to a reputed party for Rs. 22.409 billion while the privatisation of
mega projects like Pakistan State Oil, National Refinery Limited, National
Investment Trust, 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.
Dr. Hafeez Shaikh said that it was the basic desire of the government to make
the people of Pakistan the real owners of mega entities and for this purpose
after OGDCL IPO the IPO of KAPCO and PPL would soon be offered, while in
January the Public Offer of Sui Southern Gas Company (SSGC) shares would be
made. All out efforts were being made to accelerate the pace of
privatisation process of all the ongoing and upcoming entities, he stated.
We look forward to the Tunisian 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 Tunisian Envoy Mr. Lamine BENZARTI conveyed his congratulations to the
President General Pervez Musharraf and the Government through the Minister for
holding the successful SAARC meeting, which he termed, would pave the way for
peace and development in the region. He expressed that Tunisia was ready to
further and strengthen the trade and economic activity and to promote the
existing relations between the two brotherly countries. He assured full
support on behalf of his government to bring more closer the people and the
private sector of both countries.