Advisor to Prime Minister for Finance and Economic Affairs Dr Salman Shah said that we have introduced Pakistan for the first time after almost 15 years and the international equity investors have shown "positive interest" in investing in the country.
While briefing the newsmen about the OGDCL GDR roadshow in Washington on Wednesday evening, he said the idea was that international investors should start investing in Pakistan's equities, and then, private sector companies should come forward for international enlisting. "This is an important link which is quite necessary for Pakistan, so that there should be our presence in the international equity markets."
He said there was a lot of interest in Pakistan, because of good economic performance of the country. "There were many investors, who have already invested much in Pakistani market," and from their perspective, "it was very good opportunity, and hence, there is a lot of interest."
He said that we are floating 10 percent shares of OGDC in London Stock Exchange in the shape of global depository receipts, and targeted investors of East Asia, Europe, and America.
Salman said that when the company would itself be marketed, then the prospective investors would give their commitments, as to how many shares they bid for and what price they offer. This process would be completed in September or October.
Subsequently, he said government wants to enlist more companies of Pakistan internationally. Banks, insurance companies, PTCL and others may also follow and be enlisted. The main idea is that international investors should start investing in Pakistan's equities. This, he stated, was "an important link", which is quite necessary for Pakistan.
Salman Shah said the delegation would now proceed to Boston on Thursday after Washington road show. Referring to the performance of the Karachi Stock Exchange (KSE), which he said, had performed remarkably than other stock markets.
He said Pakistan has the fastest growing economy in Asia, and growth rate has been at 7 percent average; and in the coming years, it has been projected at 7 to 8 percent.
In the 160 million population, 54 percent was below the age of 19, which means Pakistan's potential future market is sizeable and the country's manpower is also young.