Privatisation Minister Dr Abdul Hafeez Shaikh on Wednesday said that American companies should participate in Pakistan's privatisation programme. He was talking to members of a delegation of Overseas Private Investment Corporation (Opic), USA, headed by Ross Connelly. The minister said that Opic could be instrumental in bringing the US investors/companies to Pakistan. Shaikh elucidated the salient features of the privatisation program and informed the delegation members that the process for the strategic sale of Pakistan Telecommunication Company Ltd (PTCL), Pakistan State Oil (PSO), National Refinery Ltd (NRL), and Pakarab Fertilisers Ltd (PFL), was in an advanced stage.
He said that US companies were operating in some specific sectors and there was need to generate their interest in other areas, such as agro-based industry, food processing and mining.
The minister said that Pakistan has great potential in coal production. He said that Pakistan's cement industry was using coal for production.
The leader of the delegation said that Opic has approved project worth $500 million and actively supports the private sector to identify areas of their interest to invest in Pakistan.
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