What impact will the privatization of NIT have on the mutual fund industry in Pakistan?
Salman Haider Sheikh: National Investment Trust Limited (NIT) is the largest mutual fund in Pakistan outside the private sector. The government has decided to privatize NIT. Faysal Bank is also one of the beneficiaries of this privatization. FAML has also submitted its expression of interest for the privatization of NIT. I believe that this privatization will add a spark to the private mutual fund companies. It will add to the overall assets under management in the private mutual funds in Pakistan. We will see new funds in line with the demands of the investors. I believe that real growth always comes from the private sector and the governments job should be to facilitate and help maintain this growth. I see this privatization as a long term positive for the overall asset management industry in Pakistan. Money: Where do you see the Mutual Fund industry 5 years from now? Salman Haider Sheikh: If you look at the overall economic data, all three segments of the economy are showing signs o
