Privatisation Commission Greenlights Formation of Negotiation Committee for HBFCL Transaction

In a recent development, the Privatisation Commission Board has granted approval for the establishment of a negotiation committee tasked with initiating talks to finalize the House Building Finance Company Limited (HBFCL) transaction. Additionally, transaction committees for both HBFCL and FWBL have been formed, as announced in a press release on Monday.

This pivotal decision transpired during a meeting of the Privatisation Commission Board, chaired by Federal Minister for Privatisation, Fawad Hasan Fawad, on the same day.

The board is scheduled to reconvene on Tuesday to deliberate the approval of PIACL Legal Segregation/Draft Scheme of Arrangement and evaluate the transaction structure put forth by the Financial Advisor for the divestment.

Following the board's endorsement, the legal segregation plan and transaction structure will undergo consideration by the Federal Cabinet through CCOP for ultimate approval.