The Privatisation Commission (PC) Board has advanced the sale of First Women Bank Limited (FWBL), recommending a reference price to the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) as part of ongoing talks for a government-to-government (G2G) deal with the United Arab Emirates (UAE).
At its 240th meeting chaired by PC Chairman Muhammad Ali, the board noted that the proposed transaction, if concluded, would not only inject fresh foreign direct investment (FDI) into Pakistan but also strengthen investor confidence in the broader privatisation programme.
FWBL, which was incorporated in 1989, remains 82.64% owned by the Government of Pakistan and is currently under negotiation with a UAE-nominated entity in line with the Inter-Governmental Commercial Transactions Act, 2022.
In another major step, the PC board approved a Raiffeisen-led consortium as the top-ranked bidder to serve as financial advisor for the planned privatisation of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO). A negotiation committee has also been constituted to finalise the Financial Advisory Services Agreement (FASA) with the consortium.
Reaffirming its stance, the Privatisation Commission said it remains committed to transparency, efficiency, and reform-driven policies aimed at stabilising the economy and attracting sustainable investment.
