Press Release
MAHAR INVITES FRENCH PARTICIPATION IN OGDCL E BONDS
Islamabad, June 8, 2011
Mr. Ghous Bux Khan Mahar Federal Minister for Privatisation has invited French Business Groups to participate in the upcoming monetizing of upto 10% of GoP shareholding in OGDCL via an Exchangeable Bonds. The Minister extended this invitation to the French Ambassador to Pakistan Mr. Daniel Jouanneau in a meeting here today.
The Minister said that the OGDCL transaction was backed by sovereign guarantee by the Government of Pakistan while there also existed huge potential for French companies to participate in the privatisation process of power generation, distribution companies and other entities.
He underlined the need for exchange of business groups' delegations of both the countries for a better understanding of the investment opportunities in both the green and brown fields sectors and to bring in new French business groups for participating in Oil & Gas, Transport, Financial and other sectors. The real potential for doing business in Pakistan could only be projected through interaction with the French groups, he added.
The French envoy to Pakistan Mr. 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 and added that the recent visit of democratically elected Prime Minister of Pakistan Mr. Yusuf Raza Gilani to France was well received and has ushered a new era of bilateral relations to promote Pakistan in French business community, which would generate business activity between the private sectors of both the countries and further strengthen the economic bonds.
Director Media
Privatisation Commission
Government of Pakistan, 5-A, EAC Building
Constitution Avenue, Islamabad,PAKISTAN
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