Objectives of organising Pakistan Capital Markets forum achieved: Senator Waqar

LONDON: The Federal Privatization Minister Senator Waqar Ahmed Khan has expressed his satisfaction at the outcome of the “Privatisation and Pakistan Capital Markets Forum” held at the London Stock Exchange on Friday and said the interaction with British companies had been beneficial.Speaking at a dinner hosted by the Pakistan High Commissioner to the UK Wajid Shamsul Hasan in honour of the Minister and the representatives of Pakistani companies that participated in the forum at the Chancery here last night, he said Pakistan’s endeavours to turn around the fiscal deficit of the Stated Owned Enterprises and to create value addition for these entities met with good response.

“We explained to the London Capital Market the challenges being faced by Pakistan and the Privatisation Commission and how we can complement each other.”The Minister said at the forum five enterprises were showcased including Pakistan Railways, Oil and Gas Development Corporation, Pakistan Steel Mills and the energy sector.He said the objective of organising the Forum was to gauge the interest of the UK stake holders and the inter-action with them showed that they understood dynamics of the current political situation in Pakistan and the need to help the country revive its economy through collective efforts.The Minister said the idea was to provide fiscal space, to generate employment opportunities and to acquire strategic interest by getting the right foreign entrepreneurs to invest in the state owned enterprises.He said both  the democratic government and the opposition were on the same page for economic revival, coming together on the key issues like financial award and the war on terror adding that they intend to ensure that Pakistan emerge as a rising nation.

Earlier, the High Commissioner in his welcome address said participation of Pakistan’s leading companies, including those from oil and gas, energy, financial services, construction, food and communications, infrastructure sectors at the forum made it a land mark event.“Your objective to attract institutional investors in Pakistan and raise capital by virtue of this road show should go a long way in enhancing investment opportunities in Pakistan,” said Mr.Hasan.Bilal Modi of Arif Habib Group in his brief remarks said despite a number of political and social challenges, Pakistan remain a land of significant competitive advantages, given its geographic location and a young population.Among those present at the dinner were Leader of Opposition in Senate Senator Waseem Sajjad, Senator Ilyas Bilour, Senator Adnan Khan and members of Senate Standing Committee on privatization – App