Voluntary separation scheme to meet target: HBFC

House Building Finance Corporation says transformation strategy will turn company into efficient, profitable entity.

KARACHI: The House Building Finance Corporation (HBFC) has announced that its voluntary separation scheme (VSS) is a key component of the transformation strategy and will turn the company into an efficient, customer-focused and profitable entity.

“So far, the VSS has resulted in a much-needed decrease in the HBFC workforce and it is now heading towards achieving the target,” HBFC said in a press release on Tuesday.

The continuous rightsizing will result in a significant reduction in administrative expenses and an increase in consistent profitability, it added. It said the company had engaged a leading international audit firm for developing the process, procedure and package to be offered to the employees under the VSS.

Published in The Express Tribune, January 26^th, 2011.