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The three top German Companies, an electrical engineering and electronic
giant Siemens, automobile manufacturers Audi and a leading insurance company
Allianz have assured Dr. Abdul Hafeez Shaikh, Federal Minister for
Privatisation & Investment to increase their investment in Pakistan due to the
existing economic profile of the country, which is growth oriented and
investment friendly, says a message received from Berlin here today.
Dr. Abdul Hafeez Shaikh who is currently on a visit to Germany, leading a
Pakistani delegation to the 11th Munich Management Colloquium, held meetings
with the senior management of the German companies.
The Minister invited the German companies to participate in the country's
Privatisation Program, particularly in the upcoming utilities transactions and
to avail the opportunities being offered in all sectors to enhance their
investments in Pakistan. In his meeting with Audi, one of the world's
producers of high quality cars the Minister invited them to establish their
operations in Pakistan with a view to create a regional hub for South Asia,
Middle East and ECO countries.
The top management of these companies assured the Minister of their
participation in the privatisation and investment opportunities. Siemens while
confirming their interest in Telecommunication and power sectors informed that
they were keen in the acquisition of Telephone Industries of Pakistan (TIP)
and Career Telephone Industries (CTI), the two companies in which they were
currently joint venture partners with Pakistan Telecommunication Company
Limited (PTCL) and as a partner in a consortium bidding for the Karachi
Electric Supply Company (KESC).
Audi management informed the Minister that they were presently actively in the
process of looking at expanding sales and assembly in Asian countries and for
entering to Pakistan market. Dr. Hafeez Shaikh is the first foreign guest
invited to address the Munich Management Colloquium. The Ambassador Asif Azdi
and the Commercial Council Fawad Hasan Fawad accompanied the Minister during
these meetings.