Thursday, June 9, 2011

French business groups invited for OGDCL shareholding

Ghous Bux Khan Mahar Fed Minister for Privatisation has invited French business groups to participate in the upcoming monetising of up to 10percent of Govt of Pak shareholding in OGDCL through exchangeable bonds. The minister extended this invitation to the French Ambassador to Pakistan Daniel Jouanneau in a meeting on Wednesday.

The minister told that the OGDCL transaction was backed by sovereign guarantee by the GoP while there also existed huge potential for French companies to participate in the privatisation process of power generation, distribution companies and other entities.

The French envoy to Pakistan Daniel Jouanneau informed the minister that the French companies including TOTAL, Hyperstar and Sanofi (medicine manufacturers) already working in Pakistan have developed plans to reinvest in Pakistan, which was an encouraging signal.