PIA, FWBL, HBFC near privatization

ISLAMABAD:

Parliamentary Secretary for Privatization Aasia Ishaque Siddiqui on Friday informed the National Assembly that the Pakistan International Airlines (PIA), First Women Bank Limited (FWBL), and House Building Finance Corporation (HBFC) have entered the final stages of the privatisation process.

Responding to questions during the Question Hour, she said the pre-bidding process for PIA has been completed, with the government preparing to proceed to the bidding phase by mid or end of November 2025, subject to procedural approvals.

Regarding the First Women Bank Limited, the secretary said bids had already been received, and the reference price approval was under consideration. "We are set to open the bids on Monday, October 13, and, by the will of Allah, the Sale Purchase Agreement (SPA) for First Women Bank will be finalized on October 17," she said.

She further said that a UAE-based international holding company is set to acquire First Women Bank.

The secretary added that bids for HBFC would be received on October 24, with bid opening scheduled for October 27. "We expect to conclude the Sale Purchase Agreement for HBFC shortly thereafter," she said.