ISLAMABAD, Jan 18: Federal Minister for Privatisation and Investment Zahid Hamid has stated that the government is fully committed and very serious to bring Pakistan State Oil (PSO) to the bidding point within the set target as "we have received encouraging response."

The minister stated this during his meeting with a delegation of Kuwaiti investors, led by Mr Hussain Al Shammaa, Managing Director, Bakri Energy Marketing Systems, on Thursday.

He informed the Kuwaiti group that the data room for the due diligence of PSO was ready and would be made available to the parties soon after the completion of pre-qualification process on the basis of the information received from the parties through their statements of qualification (SoQs).

The minister said that Pakistan had liberal economic and pro-investor policies and provided level playing field to all in a most fair, open and transparent manner.

The government’s strong political will and commitment from the top has yielded record results on the privatisation and investment fronts during the last seven years of President General Pervez Musharraf’s government.

Since 1991 to-date Pakistan has realised privatisation proceeds worth $7 billion out of which major portion of $6 billion was received during the last seven years, he said.While briefing the delegation about the investment policy and achievements, Mr Zahid stated that Pakistan provided conducive and very attractive investment environment.

The leader of the delegation of Kuwaiti Investor group expressed his keen interest in the privatisation of PSO and wished the minister for successful completion of the transaction.