KARACHI, Dec 28: Pak Brunei Investment Company (PBIC) convened the first meeting of its board of directors on Wednesday. A press release issued by the company stated that the PBIC was sponsored equally by the ministry of finance on behalf of the government of Pakistan and Brunei Investment Agency on behalf of the government of Brunei Darrussalam. “Both governments will be inducting equity into the company shortly for commencement of business operations early next year,” the press release stated.It said that Pak Oman Investment Company had been given the mandate by the government of Pakistan for incorporating and setting up the new company.

The process of incorporation was complete and the first meeting reviewed commencement of business operations.

The four-member board of directors comprises chairman, Dr. Amin Abdullah and Mr. Junaidi Masri, visiting from Brunei Darrussalam.

The Pakistani directors include Mr Muhammed Iqbal Hussain, senior joint secretary, Finance Division and Mr. Zafar Iqbal, CEO of Pak Oman Investment Company, who also officiates as CEO and MD of the new company.