The minister said: "Yes, the PTCL will be privatised within few weeks. Now the government has to decide whether to privatise it as a whole or in parts (regions)."
After this basic decision, the PTCL's privatisation will gain momentum, he added.
He said the government's deregulation policy has been stepped up to attract foreign investment and expedite the industrial growth in the country.
Now, foreign companies, especially from Europe and the United States, were keen to invest in Pakistan mainly in telecom, oil and gas sectors.
In last ten years, the single largest investment came from the United States followed by Europe and Japan. Presently, foreign investment also came from Middle East.
Leading companies from Switzerland and the United Kingdom had participated in the privatisation of Habib Bank Limited, United Bank Limited, while a Norwegian company had acquired mobile operation licence.
The minister said the country received $422 million investment in 2002, which jumped to $798 million in 2003 and it is expected that this amount will reach new heights. This year, the country has so far received $950 million investment, he said.
Earlier, the minister addressed businessmen and heads of various private and public banks.
TeleCard company had achieved the financial closure of Rs 4 billion for its nation-wide Wireless Local Loop (WLL) and Long Distance and International (LDI) services.
The minister described the occasion as very important, which highlights creativity and design capacity of financial sector in the country.
He said, the TeleCard is a pioneer company amongst the private sector tele-service providers in the country.
TeleCard had reached remote areas of the country and is searching for excellence in technology and also helps generate employment in the far-flag areas of the country, he remarked.
He said the international community had realised the great economic potential of the South Asian region.
The minister said Pakistan's economy would flourish further due to business-oriented approach adopted by the government.
TeleCard chairman Sultan-Ul-Arfeen, Farooq Bengali from Faysal Bank and BMA Capital Management CEO Farrukh Khan also spoke on the occasion.