PC Board meeting held to review ongoing transactions



Privatisation Commission (PC) Board meeting was held on Tuesday in Islamabad under the Chairmanship of Mr. Abid Hussain Bhayo, Chairman PC Board. Board members, Federal Secretary, Privatisation Commission and senior officials of the ministry were also present.

The Board was briefed about the ongoing transactions and the matters requiring attention of the Board and the line ministries

The Board was briefed about the report of the pre-qualification committee for privatisation of House Building Finance Company Limited (HBFCL) which has been part of the active Privatisation list since 2018.

The Board agreed to the recommendation to pre-qualify both the firms to take the process to due diligence stage and meanwhile any further clarification, if required, be sought from the bidders. The CEO, HBFC apprised the Board about performance of the Corporation, highlighted future action plan, elaborate the initiatives envisioned and sought approval of the PC Board, as required under the PC Ordinance 2000, for those initiatives.

The Board while appreciating the proposal suggested that HBFC privatization transaction was at advance stage and that any initiative having financial implications may be avoided at this stage.