Govt committed to accelerating privatisation process: Aurangzeb
ISLAMABAD – Finance Minister Muhammad Aurangzeb said the government was committed to accelerating the privatisation process, with 24 state-owned entities already added to the privatization pipeline. The minister expressed it during a meeting with officials of global professional services firm Alvarez & Marsal, who have expressed their commitment to in investing in Pakistan, highlighting the firm’s long-term strategy in the region’s expanding markets.
The delegation was led by Peter Briggs, Division Executive at Alvarez & Marsal, along with Abdalla ElEbiary, Managing Director, and Reza Baqir, Global Head of Sovereign Advisory. On the occasion, Peter Briggs mentioned that the firm was considering opening an office in Pakistan as part of its broader commitment to assist the government in its privatization efforts and to attract potential global investors to the country. He said, Pakistan’s growing market offers significant opportunities for investment and long-term growth. According to the statement, the meeting was part of ongoing discussions regarding the firm’s potential involvement in Pakistan’s privatization processes and the establishment of a sovereign wealth fund. Speaking on the occasion, Muhammad Aurangzeb welcomed the interest shown by Alvarez & Marsal, recognizing the firm’s expertise in privatization and sovereign advisory. He expressed the government’s appreciation for their potential contribution to Pakistan’s efforts to unlock investment opportunities, particularly in the privatization of power distribution companies. Senator Aurangzeb discussed the macroeconomic progress made over the last 14 months, noting the stabilization of Pakistan’s economy, which has rejuvenated the market and created new growth avenues. He also referenced recent announcements by prominent business groups, such as global shipping giant AP Moller Maersk, which has committed to a large investment in the maritime sector. Along with this, local investors and entrepreneurs are also stepping forward with renewed enthusiasm to seize the growth opportunities in the country. This, the minister stated, was a clear indication of the economic progress and a promising sign for Pakistan’s development. The minister reiterated that the government’s vision, aligned with the objectives of Prime Minister Shehbaz Sharif, is to bolster trade, investment, and tourism in Pakistan, tapping into the region’s growing economic corridor. He expressed hope that the partnership with Alvarez & Marsal would pave the way for a prosperous future for Pakistan and its economy.Electricity prices likely to fall by Rs6.62 per unit for Karachi consumersMay 9: ATC issues arrest warrants for PTI workers for not showing upChina nursing home blaze kills 20; one arrestedTrump plans to fine migrants $998 a day for failing to leave after deportation orderPunjab bans new car wash stations after drought concernsRifts deepen in PTI as Atif Khan, Junaid Akbar acknowledge internal disputes
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