ISLAMABAD: Government has been preparing to sell state-owned House Building Finance Company (HBFC) and approved recommendations of pre-qualification committee.

Government expedited efforts to privatise state-owned entities including House Building Finance Company (HBFC). Chairman of the Privatisation Commission Board Abid Hussain chaired an session and approved recommendations of pre-qualification committee for HBFC. Relevant pre-qualified parties have entered next phase of entity’s privatisation.

According to declaration, virtual data room will be opened after scrutiny of parties. During session, Privatisation Commission Board was also apprised of progress on other transactions.

Moreover, external audit report 2014 was also presented before board. Board’s final opinion on draft report is likely to be given in next meeting. In February, Prime Minister Shehbaz Sharif directed authorities concerned to accelerate privatisation process of public sector enterprises which had been recommended by Privatisation Board. He directed authorities concerned to ensure transparency in privatisation of public sector organisations. He directed to accomplish privatisation of PSEs recommended by Privatisation Board in transparent manner and as per best international practices.

Published in The Daily National Courier, March, 22 2023

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