Privatisation of Key Institutions Nearing Completion
ISLAMABAD – The government has announced that Pakistan International Airlines (PIA), First Women Bank Limited (FWBL), and House Building Finance Corporation (HBFC) are in the final stages of privatization. Parliamentary Secretary for Privatization Aasia Ishaque Siddiqui informed the National Assembly on Friday that the pre-bidding phase for these entities is complete, with critical dates set for final bids and sale agreements.
During the Question Hour, Siddiqui confirmed that the PIA privatization process is advancing steadily. “The pre-bidding procedures have been completed,” she said, adding that the government aims to move to the bidding phase by mid or end of November 2025, subject to procedural clearances.
Foreign Investor Eyes First Women Bank; HBFC Deal Also Advancing
Addressing progress on First Women Bank Limited, Siddiqui said that bids have been received and the reference price is under review. “We will open the bids on Monday, October 13, and aim to finalize the Sale Purchase Agreement (SPA) by October 17,” she stated.
She also revealed that an international UAE-based holding company is set to acquire the bank, marking a key milestone in the privatization drive.
Turning to House Building Finance Corporation (HBFC), Siddiqui confirmed that bids will be received on October 24 and opened on October 27. “We expect to finalize the SPA for HBFC soon after the bidding process,” she added.
The updates reflect the government’s ongoing push to reduce public-sector losses by offloading underperforming institutions to the private sector, with hopes of improved efficiency and foreign investment.
