Australian High Commissioner Neil Hawkins held a meeting with Federal Minister for Board of Investment, Communications, and Privatization Abdul Aleem Khan to discuss various critical issues, including privatization and investment in Pakistan.
During the meeting, Abdul Aleem Khan emphasized the significance of the privatization process of institutions for enhancing the country's economy. He highlighted that privatizing loss-making institutions could transform them into profitable ventures, thereby alleviating economic burdens.
"Institutions like PIA, House Building Finance Corporation, and First Women Bank are currently in the process of privatization," stated Khan.
He pointed out that the nation's economy has suffered due to these loss-making institutions, asserting that business activities are more suitably managed by the private sector rather than the government.
The minister underscored the substantial potential for industrial development and foreign investment in Pakistan. He expressed optimism about the opportunities available for growth and collaboration in various sectors.
"There is ample scope for development of industries in Pakistan, including foreign investment," he remarked.
Australian High Commissioner Neil Hawkins engaged in discussions on privatization and investment, focusing on enhancing bilateral cooperation between the two countries. The dialogue aimed to explore ways to foster economic ties and attract foreign investment to bolster Pakistan's economic landscape.
The meeting concluded with a mutual agreement to strengthen cooperation and work towards common goals, reflecting a positive outlook for future endeavours in the realm of privatization and investment.
