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Efforts being made by ECO Secretariat in its role of bringing the member
states together on the privatisation related issues is a good omen. Mr. Arif
Mansur Federal Secretary of Ministry of Privatisation & Investment stated
while addressing the concluding session of three-day moot of the Economic
Cooperation Organization (ECO) 1st meeting of High Level Experts Group (HLEG)
and 2nd meeting of Heads of Privatisation Administrations here today.
The delegates from the member states reviewed the implementation of the Plan
of Action on Privatisation and decided that the member states may exchange
their experts on privatisation among their privatisation administrations to
acquire knowledge of structure, process and legal framework related to the
privatisation. The member states requiring capacity building may request ECO
Secretariat to coordinate the member states for arrangement of technical
assistance or on job training to pursue for the establishment of ECO Business
Council
They expressed the emerging importance of Public - Private Partnerships (PPP)
model in member countries and decided to extend the cooperation among the
member states into the field of PPP, which constitutes an integral part of
privatisation.
It was also decided to establish a Task Force, comprising Islamic Republic of
Iran, Islamic Republic of Pakistan, Republic of Turkey, ECO Secretariat as
well as any other volunteer member states to study how to develop the
cooperation among the stock exchanges of the member states. The Task Force
would meet in October 2007 at Islamic Republic of Iran.
The Republic of Turkey that had declared its readiness for hosting the 2nd ECO
Meeting of High Level Experts Group (HLEG) on Privatisation would also host
the 3rd ECO Meeting of Heads of Privatisation Administrations in first half of
2008.
Country statements were made by the member states in the 2nd meeting of Heads
of Privatisation Administrations by Islamic Republic of Afghanistan, Islamic
Republic of Iran, Islamic Republic of Pakistan and Republic of Turkey.
Islamic Republic of Afghanistan stated that laws have been formulated to
further privatisation. Islamic Republic of Iran has set a target of 20%
reduction in their shareholding in the public sector enterprises over a period
of next fiver years with a quantum of US $ 130 billion. Islamic Republic of
Pakistan mentioned its efforts to dilute its shareholding in the banks through
Public Offerings and GDRs. The Republic of Turkey mentioned Public-Private
Partnership (PPP) as a future role of the privatization administrations.
Strategy for Cross Country Investment and for inviting each other for Tender /
Public Notices of Privatisation was developed. ECO Secretariat shall host a
website which shall provide detailed information about all privatisation
organizations in each member state, its rules and regulations, case studies
and the notices for privatisation. Member countries shall also include the
list of the investors and financial institutions interested in the
privatisation investments.
Delegates from Islamic Republic of Afghanistan, Republic of Azerbaijan,
Islamic Republic of Iran, Republic of Kazakhstan, Islamic Republic of
Pakistan, Republic of Turkey, Turkmenistan and Republic of Uzbekistan as well
as representatives from ECO Secretariat participated in the Meeting.