Pakistan has begun a privatization program and is trying to boost potential investors' confidence by introducing a privatization law, says Altaf M. Salim, chairman of Pakistan's privatization commission. The proposed law is being finalized by the Ministry of Law.
Last month, the government announced that it would give full autonomy to eight state oil and gas firms operating under the Ministry of Petroleum and Natural Resources. These are Pakistan Petroleum Ltd., Oil & Gas Development Co. Ltd., Sui Southern Gas Co. Ltd., Sui Northern Gas Pipelines Ltd., Pakistan State Oil, National Refinery Ltd., Pak Arab Refinery Co., and Attock Refinery Ltd.
Minister for Petroleum and Natural Resources Usman Aminuddin said the companies "will enjoy full powers to run their companies on purely professional and commercial terms."
