Islamabad : Privatisation Commission (PC) Board, in its 240th meeting held under the chairmanship of Muhammad Ali, Chairman, Privatisation Commission, has recommended a Reference Price for the privatisation of First Women Bank Limited (FWBL) to the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT).
This decision marks an important step towards finalisation of the Government-to-Government (G2G) process. FWBL, incorporated in 1989, is 82.64% owned by the Government of Pakistan and is currently being negotiated with the nominated entity of the Government of the United Arab Emirates (UAE) under the Inter-Governmental Commercial Transactions Act, 2022.
Successful completion of the process would not only attract fresh foreign direct investment (FDI) into the country but also enhance investor confidence in Pakistan’s broader privatisation programme.
In another key decision, the PC Board approved the consortium led by Raiffeisen as the top-ranked interested party for appointment as Financial Advisor for the privatisation of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
Furthermore, the Board constituted a Negotiation Committee to finalise the Financial Advisory Services Agreement (FASA) with the top-ranked consortium led by Raiffeisen.
The Privatisation Commission remains committed to ensuring transparency, efficiency, and strategic reforms in its privatisation programme to strengthen Pakistan’s economic outlook and attract sustainable investment.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
