Pakistan Begins 1.7 Billion Dollar Privatisation Drive

Pakistan's privatisation commission embarked on the most ambitious month in its history when it opened the seals on bids at the weekend for the privatisation of Pak Arab Fertilizer company, the largest fertiliser complex in the country. This marked the start of a hectic period in which Pakistan hopes to raise Rps100bn ($1.68bn, €1.33bn, £910m) through the privatisation of some of its most prominent public-sector companies. By the end of June, it aims to have sold off 26 per cent of Pakistan Telecom, the state communications monopoly…