Privatisation key to generate investment

[BATMAN]

Privatisation key to generate investment: CSF
http://www.paktribune.com/news/index.shtml?178442

ISLAMABAD: Privatisation is the key to generate investment and improve competitiveness, said Arthur Bayhan, Chief Executive Officer of the Competitiveness Support Fund (CSF). The Competitiveness Support Fund made special presentation to the Privatisation Commission here on Wednesday on the Global Competitiveness Indicators impacting the privatisation process in Pakistan, says a press release.

The meeting was chaired by Arif Mansur, Secretary Privatisation Commission (PC) he informed the CSF delegation that the privatisation process has been very successful, especially in the banking, capital markets, automotive, cement, chemical and engineering, and the fertiliser sectors. He also informed the delegation that PC would be completing some major transactions by the close of this financial year.

Bayhan in his presentation briefed the senior management of the Privatisation Commission on the indicators affecting the privatisation process and Competitiveness of the country. "The Ministry of Privatisation has a key role to play in improving Pakistan's Global Competitiveness Ranking. While protecting the rights of existing workers, the Government needs to continue to be attentive to the possibilities of improving efficiency by passing non-strategic state-owned enterprises to the private sector.

The recent successful results in the financial sector are in large part thanks to the continuation of government's policies. This will improve Pakistan's scores in terms of a variety of efforts related to the "business sophistication" and "market efficiency", he said.

The presentation also highlighted the Competitiveness aspects of the privatisation issues in Pakistan with respect to the Global Competitiveness Report (GCR) of the World Economic Forum.

Arif Mansur told the CSF delegation that the PC would closely work with the CSF on improving Pakistan's ranking on the Global Competitiveness Index of the World Economic Forum. He asked the CSF to assist the PC on various transactions related to data to be provided to the international sources. He also proposed CSF to create a formal partnership to highlight the importance of the privatisation of knowledge-driven economic development