Nicolas Galey, French Ambassador to Pakistan on Friday met with Caretaker Minister for Privatisation, Fawad Hasan Fawad, and discussed matters related to mutual interest.
Both sides expressed their firm resolve for the enduring bilateral relationship, as well as an in-depth discussion aimed at expanding collaboration in essential sectors, including education and agriculture economic cooperation.
The meeting embodied the unwavering dedication of Pakistan and France to intensify their strategic partnership and explore new frontiers for economic and cultural exchange.
Speaking on the occasion, the envoy expressed keen interest in gaining insights into Pakistan’s privatization strategy and was provided a comprehensive overview of the privatization plan.
The French Ambassador extended valuable suggestions regarding French Advisory Services and prospective firms and corporations that could possibly participate in these initiatives. The Ambassador also conveyed France’s strong desire to engage in collaboration and investment across various sectors.
He highlighted areas where French enterprises have already made significant inroads, particularly in the automotive and retail sectors.
During the discourse, Federal Minister Fawad Hasan Fawad also illuminated the privatization strategy for the Distribution Companies (DISCOs). He detailed a phased approach for DISCOs’ Privatisation, structured on a concession model.
In the first phase, the transfer of management control will be executed, with or without the purchase of shares, he added.
He further said that the second phase will involve the public offering of additional shares once the stipulated benchmarks are achieved.
