ISLAMABAD, Feb 13: Privatization and Investment Minister Dr Abdul Hafeez Sheikh on Monday opened the first two-day road-show in Singapore to attract foreign investors for the privatization of SSGC and SNGP.

The show was held to brief the investors regarding the sell-off process of the country’s largest natural gas transmission and distribution companies, said a message received here from Singapore.

The minister held meetings with various investment groups of international repute and informed them the salient features of both the transactions and briefed them about the privatization process.

The investors expressed their keen interest in both the transactions.

Dr Shaikh said that Pakistan provided a level-playing field for both local and foreign investors and offered unmatchable incentives for the investors in the region.

The financial advisers for both the transactions also gave detailed presentations to the investors. Owing to the overwhelming response from the prospective local and foreign investors the Privatisation Commission had extended the last date for submission of Statement of Qualifications (SOQs) for both SNGPL and SSGC to March 11, 2006.

The commission had solicited Expressions of Interest (EoIs) for the privatization of SNGPL an SSGC on December 14, 2005 and January 4, 2006 respectively. Earlier, the last date for submission of SOQs was set as February 11, 2006 for SNGPL and March 4, 2006 for SSGC. All other conditions would remain unchanged.

The PC invited EoIs from qualified strategic investors to divest 51 per cent shareholding in SSGC and SNGPL.

The Privatization Commission is holding second road-show for both the transactions in London during the last week of the current month.

Dr Hafeez Sheikh is also scheduled to deliver his keynote address at Institute of South Asian Studies at Singapore on Tuesday.—APP