Pakistan’s privatization drive is entering its final stretch, with three major institutions—Pakistan International Airlines (PIA), First Women Bank Limited (FWBL), and House Building Finance Corporation (HBFC)—moving toward handover to private investors, Parliamentary Secretary for Privatization Aasia Ishaque Siddiqui told the National Assembly on Friday.
She said bids for FWBL have already been received and will be opened on Monday, October 13. The Sale Purchase Agreement (SPA) is targeted for October 17, with a UAE-based international holding company expected to acquire the bank—marking one of the most significant foreign entries into Pakistan’s financial sector this year.
Turning to HBFC, she noted that bids will be received on October 24 and opened on October 27, with the government aiming to conclude its SPA shortly thereafter.
On the aviation front, Ishaque confirmed that the pre-bidding phase for PIA has been finalized. The government is preparing to enter the bidding round by mid to late November 2025, pending procedural approvals.
Highlighting the broader rationale, she stressed that these privatization efforts are designed to improve operational efficiency, attract foreign capital, and reduce the financial load on public resources by involving credible international investors.
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