Zardari Offers Pakistani Assets For Sale
Pakistan considers asset sales to bolster economy By Heather Timmons Tuesday, September 9, 2008 NEW DELHI: Pakistan plans to sell valuable energy assets, beginning with a major gas field, as it tries to reap billions of dollars from deals with investors in industries like banking and farming. The move comes as Asif Ali Zardari, the widower of former Prime Minister Benazir Bhutto, is stepping in as president. Because of a hefty oil bill and a slowing economy, Pakistan is struggling under its biggest budget deficit in a decade, $21 billion; inflation that hit a 30-year high, 24.3 percent, in July; and fast-rising unemployment that is projected to reach 6.6 percent in 2009. Government leaders are eager to raise money, quickly. "The government is going through all their funding options," a banker advising the Pakistani government said. Financial advisers to the government spoke on the condition of anonymity so as not to alienate their client. The Qadirpur gas field in Pakistan, a...