Investors review privatisation plans

A group of representatives of leading investment banks, funds and institutional investors on Saturday called on Caretaker Minister for Privatisation Fawad Hasan Fawad and discussed matters related to investment possibilities in Pakistan.

The group was organised by Trans-National Research Corporation and included representatives of Fidelity Investments, Morgan Stanley Investment Management, Barings and William Blair Investment Management, said a press release.

The minister briefed the group on plans of the present government for investment and privatisation of state-owned enterprises, how the Privatisation Commission was working and the current privatisation programme.

The process and expectations for the privatisation of Pakistan International Airlines (PIA), Roosevelt Hotel, First Women Bank and House Building Finance Company were discussed.

The minister responded to queries regarding the privatisation agenda and future investment opportunities. The representatives were encouraged to explore opportunities of potential investment in Pakistan.

Appreciating the initiatives, they expressed hope that the work being done would result in a conducive investment environment.

Separately, the privatisation minister chaired the second and final meeting of the Working Group on Development of Special Economic Zones of the Special Investment Facilitation Council (SIFC).

The working group suggested the creation of a single authority for managing all types of economic, technology and industrial zones for the facilitation of investment and development of industry, said a press release.

A working paper based on recommendations of the working group will be submitted to the SIFC executive committee in its next meeting.

The meeting was attended by representatives of all key stakeholders at the federal and provincial levels. It was highlighted that the existing frameworks allowed for different types of special zones offering different sets of incentives, which were counterproductive for industrialisation.

The best facilitation for investment can be offered only when a single authority is formed and fully empowered by all stakeholders to cater to investors. It was further pointed out that legal and constitutional provisions existed for such cooperation and coordination between the federation and federating units.

Published in The Express Tribune, December 10^th, 2023.

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