13 January 2003
KARACHI, Pakistan: Jan 13 (PNS) - Pakistan's privatization programme Has been very transparent and effective. This was stated by the Federal Minister for investment and Privatization, Senator Dr. Hafeez Shaikh, while talking to Reporters at a local hotel on Monday.
He said that the transaction of Habib Bank has been Excellent which has earned a good name for Pakistan the world over. The Minister said that the entire international community understands that Pakistan's privatization programme has been very transparent and effective.
He further pointed out that now this very process is being speeded up. Senator Shaikh remarked that we are lucky that we have Entered into partnership with a nice group like the Aga Khan as far as The Habib Bank is concerned.
He termed this relationship as the joint public-private partnership because half of the Bank has been purchased by the Aga Khan Group while the remaining half is still with the government Of Pakistan.
The Minister expressed the optimism that like the other Banks performed very well after the privatization, Habib Bank will also Be doing pretty well after such a process which will benefit the People as the cost of doing business would reduce.
He said that because of the Aga Khan Group the Habib Bank Will also make headway in the Central Asia, East Africa as well as in Other countries. Senator Shaikh pointed out that the government of Pakistan Has got good revenues which contribute towards increase in profit as Well as would be utilized towards the country's debt retirement programme.
To a question, he said that no serious person has raised Figure as regards the privatization of the Habib Bank but it is obvious That if nice things are performed in the country then there as some Who express unhappiness.