Finance Minister Muhammad Aurangzeb emphasizes the govt’s strong commitment to collaborating with int’l companies
ISLAMABAD, August 05 (SABAH): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with a delegation led by Executive Vice President Oceania and South Asia PARCO, Mehmet Celepoglu.
The delegation also included CEO and co-founder of Gunvor Group, Torbjörn Törnqvist, a key investor in Pakistan’s oil sector. During the meeting, representatives from PARCO and Gunvor Group provided an overview of their current projects and activities in Pakistan. They reaffirmed their dedication to supporting the development of the country’s energy sector. Senator Muhammad Aurangzeb highlighted the ongoing energy reforms, state-owned enterprise (SOE) reforms, and privatisation efforts being undertaken by the government of Pakistan. He emphasized the government’s strong commitment to collaborating with international companies and placed significant value on foreign investment. Minister Muhammad Aurangzeb expressed his gratitude to the delegation for their interest in Pakistan’s energy sector and reiterated the government’s commitment to fostering mutually beneficial partnerships with global investors.
Meanwhile Senator Muhammad Aurangzeb held a meeting with the delegations from Global Consulting Firm Kearney and Public Private Partnership Authority (P3A) at Finance Division on Monday. The Kearney delegation provided an overview of their workflow and functions, detailing their ongoing engagement under SIFC program to restructure public entities. They updated the Finance Minister on the current status of their engagement with P3A, noting that the list of entities for restructuring is being finalized. The delegation also mentioned that they are in the process of identifying priority areas for intervention. Senator Aurangzeb acknowledged and appreciated the valuable support provided by Kearney. He reiterated his belief in the critical role of public-private partnerships (PPPs) in driving the country’s development, emphasizing that the private sector must take a leading role in this process.
The Finance Minister also highlighted the Government’s ongoing efforts in privatization and state-owned enterprises (SOE) reforms as integral to this strategy. The meeting underscored the commitment of both Kearney and P3A to advancing public sector restructuring and the broader privatization agenda, with a shared focus on enhancing the role of the private sector in national development.
Meanwhile the Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb presided over a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at Finance Division on Monday. The meeting was attended by Minister for Housing & Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Afairs Ahad Khan Cheema, Governor SBP, Chairman SECP, and other senior officers of the relevant ministries. The Committee considered the summaries presented by Finance Division for the categorization of their relevant State-Owned Enterprises (SOEs) as strategic/ essential or otherwise. The Cabinet Committee on SOEs approved the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC), and directed the Ministry of Finance and SBP to complete the formalities and present the implementation plan before the Committee. The Cabinet Committee further approved that National Bank of Pakistan (NBP), being a part of Sovereign Welfare Fund, is exempted from SOE Act 2003, hence not required to be categorized, whereas EXIM Bank be categorized as Essential SOE.