With the privatisation of 26 percent shares the Pakistan Telecommunication Company Limited (PTCL) would emerge as a leading telephone company of world, Minister for Privatisation Dr Abdul Hafeez A Shaikh said. This would benefit consumers in terms of improved enhanced services and reduced prices, he said while talking to PTV.
The successful privatisation of PTCL was a step forward towards economic progress and prosperity of Pakistan - June 18 has proved to be a historical day in Pakistan's history, he added.
The investors across the world have started looking towards Pakistan with a new perspective. The business relations with UAE have strengthened further he said.
The per share price of PTCL was Rs 67 per share in stock market. While its 26 percent shares have been sold on Rs 117 per share which reflects unprecedented confidence of investors, he said.
Pakistan's credibility has registered immense improvement. No example of receiving investment of around $1 million can be found within a single year, he said.
A record $2.5 billion investment has been attracted in a single day. That too, on selling only 26 percent shares. The remaining shares would be kept intact, he said.
Replying to a question he said that the privatisation of Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), National Investment Trust (NIT), Pakistan Steel was on the cards along with some medium size manufacturing units like Mustakhkham cement.