ISLAMABAD:
The Privatisation Commission (PC) board, in its 240th meeting held under the chairmanship of PC Chairman Muhammad Ali, recommended a reference price for the privatisation of First Women Bank Limited (FWBL) to the Cabinet Committee on Inter-Governmental Commercial Transactions.
This decision marks an important step towards finalising the government-to-government (G2G) process. FWBL, incorporated in 1989, is 82.64% owned by the government of Pakistan and its sale is currently being negotiated with a nominated entity of the UAE government under the Inter-Governmental Commercial Transactions Act, 2022.
A successful completion of the process will not only attract fresh foreign direct investment but also enhance investor confidence in Pakistan’s broader privatisation programme.
In another key decision, the PC board approved a consortium, led by Raiffeisen, as the top-ranked interested party for appointment as financial advisers for the privatisation of Hyderabad Electric Supply Company (Hesco) and Sukkur Electric Power Company (Sepco).
