ISLAMABAD:
Parliamentary Secretary for Privatization Aasia Ishaque Siddiqui on Friday informed the National Assembly that Pakistan International Airlines (PIA), First Women Bank Limited (FWBL) and House Building Finance Corporation (HBFC) have entered the final stages of the privatization process.
Responding to questions during Question Hour, he said the pre-bid process for PIA has been completed and the government is preparing to move to the bidding phase in mid-to-late November 2025, subject to procedural approvals.
Regarding First Women Bank Limited, the secretary said that offers had already been received and approval of the reference price was being considered. “We are scheduled to open the bids on Monday, October 13 and by the will of Allah, the Sale and Purchase Agreement (SPA) for First Women Bank will be finalized on October 17,” he said.
He further said that an international holding company based in the United Arab Emirates will acquire First Women Bank.
The secretary added that the bids for HBFC would be received on October 24 and the opening of bids is scheduled for October 27. “We hope to conclude the sale and purchase agreement for HBFC soon thereafter,” he said.
