According to sources, the government offered it’s stakes in five top State-Owned Entities (SOEs) to two top companies of the United Arab Emirates (UAE).
Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), National Bank of Pakistan (NBP), Pakistan International Airlines (PIA) and Pakistan National Shipping Corporation (PNSC) are the SOEs whose shares were offered to the UAE firms.
During the last visit of PM Shehbaz Sharif to UAE on 12-13 January, 2023, it was inter alia discussed with the UAE leadership regarding more market access for Pakistani products and UAE investment in Pakistan’s public sector entities.
The sources confirmed PM in his engagement with heads of the economic entities in UAE including Abu Dhabi Development Holding Company (ADO) and International Holdings Company (IHC), invited their investment in NPPMCL(National Parks Management Company Limited), solar power projects, airport management of Karachi, Lahore and Islamabad and shares in five SOEs.
