ISLAMABAD, June 8: The Privatisation Commission has offered French business groups to participate in the upcoming monetising of up to 10 per cent of government shareholding in Oil & Gas Development Company (OGDC) through exchangeable bonds.

The offer was communicated by Federal Minister for Privatisation Ghous Bux Mahar to the French Ambassador in Islamabad Daniel Jouanneau on Wednesday, while assuring that the transaction is backed by the sovereign guarantee of the government.

There exists huge potential for French companies to participate in the privatisation process of power generation, distribution companies and other entities, the minister said.

He underlined the need for exchange of business delegations of both the countries to create a better understanding of investment opportunities in different sectors.

The real potential for doing business in Pakistan could only be projected through interaction with the French groups, he added.