DAR APPRISED ON PAK-BRUNEI’S INVESTMENT PROGRAMMES
Press Release No: 184
Finance Minister, Ishaq Dar here on Sunday chaired a briefing session by MD, Pak-Brunei Investment Company, seeking details of its present investment/financing profile and immediate future plans.
Pak Brunei Investment Company, is an Investment Finance Company established as a joint venture between Government of Pakistan and Brunei Investment Agency (BIA) that commenced operations in August 2007. The Company has active platforms for Project and Lease Finance, Corporate Finance & Advisory Services, SME Finance, Private Equity, Trust Services, Capital Market Operations, and Fixed Income Trading & Distribution activities.
MD Ayesha Aziz informed the Minister that the company started operations almost 8 years ago with a capital of Rs. 3 billion. The company has a current equity of Rs, 9 billion. In October 2014, Company’s first SME branch was inaugurated in Lahore. Pak Brunei established an independent Small and Medium Enterprise division in 2012 that provides leasing services, a viable and affordable alternative to traditional loans in the SME sector.
Responding to query by the Finance Minister on the Company’s future programmes, the MD said Pak-Brunei plans to increase its SME footprint across various regions of the country. She said the Company was in final stages of launching a modarba fund as its special future venture. The First Fund based on PE model will be established by March 2015. Pak-Brunei also has plans for establishment of specialized vehicles for warehousing/collateral management.
Finance Minister appreciated the company’s 100% recovery ratios particularly in SME financing and handling projects facing financial distress. He hoped Pak-Brunei would continue to expand its financing and investment programmes in Pakistan.