KARACHI, Oct 31: The 5th Board meeting of Pak Oman Investment Company was held on Wednesday, at Dubai, a press release issued by Pak Oman stated.

The meeting was chaired by H.E. Yahya Bin Said Bin Abdullah Al Jabri (chairman-capital markets authority, Oman) and attended by Dr. Waqar Masood Khan (Secretary Economic Affairs Division, Govt. of Pakistan). Nasser Bin Khamis Al Jashmi (director general of budgets & contracts, Ministry of Finance, Oman), Ahmed S. Al Wahaibi (Dy CEO, Oman Oil Company, Oman), Humayun Murad (CEO, Orix Leasing Pakistan), Zafar Iqbal (MD & CEO Pak Oman) and Syed Jamal Macdi (CFO & Company Secretary).

The press statement said that the board expressed satisfaction over the performance of the company and the results achieved; operations had started in February 2002. “To date, the board has approved disbursements of approximately Rs750 million for financing projects within food & beverages, chemicals & fertilizer, textile, telecommunications and cement sectors”, the statement said. The Corporate Finance Department had been awarded mandates for listed TFC issues (to date Rs2,350 million) including WorldCall Communications; Pak Libya Holding Company; Union Bank; Security Leasing; Network Leasing and Ittehad Chemicals etc.

The Treasury Department had also played a leading role in profitable deployment of surplus funds through short-term lending to financial institutions and investment in government securities and corporate bonds, the press release said.