finance minister apprised on pak brunei investment

ISLAMABAD: Finance Minister Ishaq Dar here on Sunday chaired a briefing session by managing director 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 said a press release. Managing Director Ayesha Aziz said that Pak-Brunei plans to increase its small and medium enterprise footprint across various regions of the country. She said that 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.