World Interest Grows in Pakistan Privatisations

Pakistan expects to receive bids from at least eight investors for the privatisation of its state-owned telecoms company including from state-owned south-east Asian operators Singapore Telecom and Telekom Malaysia, the country's privatisation minister has said. Etisalaat of the UAE and investors from Kuwait, Saudi Arabia, South Africa, The Philippines and Pakistan are also expected to file bids by the January 28 deadline. The Pakistani government planned to complete the deal and transfer management of the company to its new owners by the end of June, he said. The deal comes as the government is seeking to intensify the pace of its privatisation program.