RECONSTITUTION OF BOARD OF DIRECTORS OF RAILWAY-PIA ON CARDS
 

Islamabad, February 17, 2010

 
Pakistan seeks for Reverse Mergers of State owned Entities (SOEs) with the German companies. Senator Waqar Ahmed Khan Federal Minister for Privatisation urged upon Dr. Michael Koch Ambassador of Germany to Pakistan who called on him here today.

Senator Waqar said that doing business was not the job of the government and we were determined to involve the private sector, which have the capability and the expertise. We were in the process of offering Utilities, Pakistan Railways, Power Generating Units, Oil & Gas Companies, PIA and other entities after completing the phase of restructuring these entities with the reconstitution of the respective Boards of Directors and the managements.

The Minister said that there was vast scope for German investors to explore new avenues for investment in Brown field projects for bringing in effective and efficient management to get best performance from SOEs by getting them work on full capacity.

We were endeavoring to sustain and stabilize the economy of Pakistan for prosperity of the country and the people through proactive economic policies, he added.

Dr. Michael Koch Ambassador of Germany to Pakistan assured the Minister to capitalize the efforts being made for promoting investments in both directions among potential private sector. Meetings of top business leaders were being scheduled during the upcoming visit of the Prime Minister Yusuf Raza Gilani to Germany to extend and further strengthen the existing economic relations in the light of the investment treaty between the two countries, he said.