ISLAMABAD: Prime Minister Muhammad Nawaz Sharif on Saturday congratulated the Privatization Commission of Pakistan on the successful conclusion of capital market transaction of Pakistan Petroleum Limited (PPL).
The Prime Minister, in a statement here, said the transaction had been a mega success, far better than any such transaction in the history of country’s capital market that had broken all previous records.
“I am happy that for the first time in our history, the government has been able to sell the shares at a premium, higher than the market price,” he added.
He said it was the faith and trust of investors in the economy that the government received bids of more than 143 million shares worth Rs 30 billion as against offering of 70 million shares of Rs 14.3 billion, which was more than double the amount.
The Prime Minister said all of this reflected the confidence of the investors, both domestic and foreign, in the sound economic policies of the government and their strong belief that in due time, Pakistan would achieve sustainable long term economic stability.
He expressed strong hope that the benefits of such a turnaround would soon start to trickle down to the masses.