KARACHI, March 31: The government may put off the proposed international investment conference scheduled on April 19-20 to some “right time”, Prime Minister’s Adviser on Privatization and Investment Dr Hafeez Sheikh indicated here on Monday.
Speaking at the Corporate Excellence Awards 2001 ceremony of the Management Association of Pakistan (MAP), the Prime Minister’s adviser said that promotion of foreign investment had not received due attention in the country.
“We could not receive one billion dollars investment in any single year during last decade,” he said while pointing out that there was immense potential to attract investment.
For this, he said, the taxation structure needs to be given a hard look and its investment promotional policies should be designed. He also called for giving a fresh look at the role of Board of Investment which should have people from the private sector as driving force.
Dr Hafeez said the present government in last three years had privatized assets worth about Rs4 billion, which is a record in Pakistan.
He said the privatization of the Habib Bank and the Pakistan Telecommunication Company Limited were on top of the Privatization Commission’s agenda and would be taken up.
Dr Hafeez Sheikh also held meeting with the stock brokers and leaders of the Karachi Stock Exchange on Monday to discuss offering of the public sector assets to the investors through bourses.
He said the privatization of government assets through stock exchanges was transparent and broad based, and hence a favourable proposition to go ahead.
Later, he gave away the MAP’s Corporate Excellence Awards to the representatives of the companies. The Al Ghazi Tractors Limited received award in the engineering and allied sector. The International General Insurance Company of Pakistan was given award in the financial sector.
Certificates were given to the Colgate Palmolive (Pakistan) Ltd in chemicals, the Unilever Pakistan in food, the Bolan Castings in engineering and the Thal Jute Mills in miscellaneous sector. The Orix Leasing Company was given a certificate in the financial sector.