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Dr. Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment
elucidated the salient features of the privatization policy and program of the
government to the visiting five-member IMF delegation who called on him here
today.
He said that during the last fifteen years all governments in Pakistan adopted
policy of privatization but the visible achievements were in the last two
years in which we were able to realize Rs.50 billion from privatization of 18
transactions including banks, fertilizer and cement plants and some of the
dead assets, which have been revived by the private sector. We have
accelerated the process of privatization and have adopted a transparent
process of bidding.
Referring to the upcoming transactions, the Minister stated that the bidding
date for KESC has been fixed as 4th February this year. Other transactions in
the pipeline were PTCL, PSO, Pak-Arab Fertilizer, Kot Adu Power Plant, State
Life Insurance, UBL, Pakistan Steel and National Refinery he said.
The Minister further said that image of Pakistan abroad was improving
gradually and the graph of macro-economic indicators was upward. During the
last three years the FDI flow was doubled and consistent. We were trying to
provide adequate infrastructure and utilities including gas, electricity water
to the industries, he added.
The leader of IMF delegation Mr. Augstin Carstenis admitted that the approach
of Pakistan was in the right direction and hoped that the things would further
improve on the economic front. The five-member delegation of IMF lauded the
business friendly environment and consistencies in the policies of Pakistan
while the leader of IMF delegation Mr. Augstin Carstenis termed the
achievements on macro-economic front as visible. The delegation included Mr.
Augstin Carstenis, Dy. M.D, IMF, Mr. Alfred Kammer, Advisor to Dy. MD, Mr.
Henri L. Lorie, Senior Resident Representative, Mr. Mohsin S. Khan, Director,
and Mr. Milan Zavadjil, Asstt. Director (Asia).