Eynulla Madatli Ambassador Extraordinary of Azerbaijan to Pakistan informed Zahid Hamid Federal Minister for Privatisation & Investment in a meeting on Monday in Islamabad.

The envoy said that in view of the remarkable recent economic achievements made by Pakistan, the Republic of Azerbaijan intended to benefit from the experience of Pakistan in services, transport sectors, privatisation and investment fronts. Azerbaijan started privatisation of its State Owned Entities in 1995 after five years of its independence, he stated.

Zahid Hamid Federal Minister for Privatisation & Investment assured the envoy of full assistance for benefiting from Pakistan's experience in establishing the regulatory regimes and the process of open, fair and transparent privatisation and investment activities.

He informed the envoy that privatisation proceeds worth US $ 5.3 billion have been realized by privatising 58 transactions during the past seven years (from 1999 to 2006), which was 85% of the total privatisation conducted since the inception of Privatisation Commission in 1991. The present government always gave priority to bring the private sector forward through the best privatisation program, which has been acknowledged worldwide by the international institutions, he added.

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