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Pakistan will sustain the growing momentum of Foreign Investment and
Privatisation proceeds, which performed tremendously well and yielded record
results during the year 2006-07 of US $ 2 billion as privatisation proceeds
and US $ 8.4 billion in terms of Foreign Investment. Mr. Zahid Hamid Federal
Minister for Privatisation & Investment stated this during a meeting with the
visiting Mr. Asif Ahmed Director Asia Pacific for UK Trade & Investment who
called on him along with UK’s Deputy High Commissioner here today.
He informed that two GDR transactions Oil & Gas Development Company Limited (OGDCL)
and recently United Bank Limited (UBL) respectively attracted US $ 811 million
and US $ 650 million, both listed on London Stock Exchange. The investment
conferences and road shows held within Pakistan and abroad have contributed
significantly in the amazing increase in portfolio investment, he added.
Mr. Zahid Hamid stated that the institutional economic reforms introduced by
the government would go a long way in the days to come. The GDR transactions
of National Bank of Pakistan (NBP), Kot Adu Power Company (KAPCO) followed by
Habib Bank Limited (HBL) and other transactions were proceeding according to
the tentative time frame.
The Minister lauded the interest of UK and US investors in the economic
activity of Pakistan while terming it encouraging and assured the visiting
guests that Pakistan was in the process of further improving its
competitiveness and facilitation arrangements for the foreign investors.
Mr. Asif Ahmed Director Asia Pacific for UK Trade & Investment appreciated the
support being extended by the Pakistan High Commission in Britain to UK
investors and hoped the exchange of investors delegations of both the
countries would help a lot to improve the existing trade and investment
relations.