Qadirpur Gas Field up for sale

ISLAMABAD - Pakistan has geared up its dormant privatisation process by resolving to privatise Qadirpur Gas Field, one of the largest state-owned gas fields of the country, despite lack of investors’ appetite in the given economic scenario of the world.

Officials claimed that the International Monetary Fund (IMF) had asked the government of Pakistan to privatise national silver at an accelerated pace as a pre-condition of its bailout programme for the country’s economy described to be fast melting down.

However, Privatisation Minister Syed Naveed Qamar rebutted the claim during a press conference here Friday saying that it was purely an indigenous decision in the best national interests of the country and the people of Pakistan.

“Whether or not it is part of the IMF conditionality, I could assure you that the decision to privatise 37 per cent strategic shares of the Qadirpur Gas Field with transfer of management control is our homegrown project,” the Minister responded to a questioner claiming that the government was doing so as it was being asked by the IMF.

The Minister also disagreed with another questioner reminding him the promise of the PPP’s previous government during 90s that the national silver entities that included Qadirpur Gas field (OGDC) as well would not be given into the private hands. To a question on the timeline of the gas field’s privatisation the Minister said that the Privatisation Commission would try to close this transaction within the current financial year ending June 2009. However, he rushed to add that a number of issues were to be resolved before even going for the marketing of the Qadirpur.