The visiting Iranian delegation led by Najad Hosseinian, Deputy Petroleum Minister for International Affairs, held a meeting with federal Privatisation and Investment Minister Dr Abdul Hafeez Shaikh her on Wednesday.
Hafeez gave an overview of the investment and privatisation opportunities in Pakistan and informed the delegation that the Oil and Gas Development Company Limited (OGDCL), National Refinery Limited (NRL), Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Pipeline Company Limited (SSGCL) were among the upcoming transactions in the petroleum sector, which were being structured for strategic sale.
He said that the government shares in certain public sector entities have been divested through stock market to broaden the base of ownership and to strengthen and deepen the capital market.
He said that the initial public offering of 5 percent shares in the OGDCL launched recently had been oversubscribed eight times and now in January 2004 the public offering of 10 percent shares in the SSGCL was being scheduled.
The minister also said 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 Iran-Pakistan Gas Pipeline project would obviously fulfil our industrial requirements, he hoped.
During the meeting, leader of the delegation Najad Hosseinian, showed keen interest for investment in 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 brotherly countries.
He added that there existed a vast scope of Iranian natural gas consumption in Pakistan.
He said that Iran intended to make investment in the petroleum sector for the benefit of the people of both the countries, which would also increase the existing level of economic interaction.
Hafeez expressed his deep grief and sorrow over the loss of large number of human lives during the recent 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 to the Almighty Allah to shower His blessings over the departed souls."
The Iranian deputy minister expressed his gratitude over the assistance being provided by Pakistan for the earthquake victims.
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