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SOEs sell-off starts from January 2011

ISLAMABAD: Government is planning to divest minority stakes or offer equity linked instrument such as convertible bonds to bring in foreign firms to provide management expertise necessary to raise the value of the State Owned Entities (SOEs) before offering bigger stakes. Senator Waqar Ahmed Federal Minister for Privatisation said in an interview with a foreign news agency, says a message received from London, here on Tuesday.
He said that the program was expected to launch from January 2011 with 5 to 6 entities to be offered during the whole calendar year. We would be able to find some foreign companies or strategic investors, to buy into Pakistan SOEs, which would lend credibility to the whole process, he stated.
The Minister elaborated that the country was searching for the companies with the experience, technical, financial and management capabilities to help Public Sector Entities to realize their true potential, with multiple stock exchange listings, which he termed, would subject the privatisation process to international scrutiny and bring investment into Pakistan in order to give tremendous credibility and transparency to the whole privatisation program and the process, he added.-Agencies


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