A major investment in the telecom sector of Pakistan by Saudi-Arabia. The Saudi-Telecom has struck a deal to take over PTCL after paying a hefty sum of $4 billion by the end of this year. The deal was concluded under the supervision of Goldman Sachs. This major investment will act as a catalyst in bringing much needed foreign exchange and jump starting the economy. It will also bring credibility to the government's efforts towards privatisation.
A laudable move on behalf of Saudis for commencing a trend which will create stronger economical ties amongst muslims. Congrat to both Governments for their efforts!!
[This message has been edited by outlaw (edited October 15, 2000).]
A laudable move on behalf of Saudis for commencing a trend which will create stronger economical ties amongst muslims. Congrat to both Governments for their efforts!!
[This message has been edited by outlaw (edited October 15, 2000).]
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