FRENCH COMPANIES EXPANDING OPERATIONS IN PAKISTAN
 

Islamabad, February 11, 2010

 
The leading existing French companies in Pakistan are reinvesting to expand their operations. The French envoy to Pakistan Mr. Daniel Jouanneau informed the Federal Minister for Privatisation Senator Waqar Ahmed Khan during a meeting here today.

Senator Waqar Ahmed Khan said that there was a need to bring in new French business groups for participating in Oil & Gas, Transport, Financial, Postal and other sectors including the chain of Utility Stores Corporations outlets. We have to project the real potential for doing business in Pakistan through interaction with the French groups.

He further stated that the government was in the process of re-structuring, upgrading of the State Owned Entities (SOEs) included in the Privatisation Program. The Boards of various entities were being changed and the people having professional, technical, financial expertise with good reputation would be taken on board to reorganize, improve the management of the SOEs and to make them more efficient.

The French envoy to Pakistan Mr. Daniel Jouanneau informed the Minister that the French companies including TOTAL, Hyperstar and Sanofi (medicine manufacturers) already working in Pakistan have developed plans to reinvest in Pakistan. The forthcoming visit of the Prime Minister Yusuf Raza Gilani to France would usher a new era of bilateral relations to promote Pakistan in French business community, which would generate business activity between the private sectors of both the countries and further strengthen the economic bonds. The Secretary Ministry of Privatisation Mr. Shahab Khawaja and Economic Councilor of the French Embassy were also present during the meeting.