Dr Abdul Hafeez Shaikh gave an overview of the investment and privatisation opportunities in Pakistan.
He informed the delegation that Oil and Gas Development Company Limited (OGDCL), National Refinery Limited (NRL), Sui Northern Gas Pipeline Limited, Sui Southern Gas Pipeline Company Limited were among the upcoming transaction in the Petroleum sector, which were being structured for strategic sale.
He said some government shares in certain public sector entities had been divested through stock market to broaden the base of ownership and to strengthen and deepen the capital market.
Initial Public Offering of 5% shares in OGDCL launched recently had been oversubscribed eight times and now in January 2004 the Public Offering of 10% shares in SSGC was being scheduled, he said.
The minister further stated that Pakistan was in the process to establish open regime for the investors without any restrictions on the capital, partnership or taking out the dividend.
The upcoming gas pipeline project would obviously fulfil our industrial requirements, he hoped.
Nejad Hosseinian, showed keen interest for investment in the Oil and Gas sector of Pakistan and said that Iran-Pakistan Gas pipeline Project would usher in a new era of economic co-operation between the two neighbouring brotherly countries.
There exited a vast scope of Iranian natural gas consumption in Pakistan, he added.
He said Iran intended to make investment in the Petroleum sector for the benefit of the peoples of both the countries, which would also increase the existing level of economic interaction.
Dr Abdul Hafeez Shaikh expressed his deep grief and sorrow over the loss of large number of human lives during the recent tragic earthquake in Bam city and condoled with the leaders and the people of Iran.
He said we equally share your grief in this great loss and prayed for eternal peace of the departed souls.
The Iranian Deputy Minister expressed his gratitude over the assistance being provided by Pakistan for the earthquake victims.