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