ISLAMABAD, Feb 4: A six-member US delegation led by Deputy Secretary of the Treasury, Kenneth Dam, on Monday met Federal Minister for Privatization, Altaf M. Saleem.

The delegation, currently on visit to Pakistan, discussed the broad range of US-Pakistan economic relations, including the economic situation and the planned privatization of the state entities, an official announcement said.

Mr Dam was very supportive of Pakistan’s privatization programme. He highlighted its importance in strengthening Pakistan’s financial position, which would improve not just from the privatisation proceeds but also from eliminating the need for government financing of loss-making enterprises.

The Deputy Secretary added that the US was indebted to Pakistan for its recent support in Afghanistan. He appreciated the difficulties placed on Pakistan by the sanctions. Now that they were lifted, there would be greater confidence in Pakistan’s economy. Moreover, Pakistan could take advantage of facilities under the EXIM Bank and OPIC, whose delegation were to arrive in Pakistan soon.

Following a briefing about the privatization policy and programme, Altaf M. Saleem stressed the government’s firm commitment towards privatization and highlighted the measures taken by the administration to improve the enabling environment.

He said that there existed good synergy and lucrative opportunities for US investors to participate in the government’s privatization programme, especially in the oil and gas, power and telecommunications sectors.