Privatization of PIA, FWBL HBFC enters final stages: NA Told

ISLAMABAD, Oct 10 (APP): 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 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 First Women Bank Limited, Aasia Ishaque 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, reflecting growing investor interest in Pakistan’s privatization program.
The Parliamentary 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.
Aasia Ishaque said that these privatization efforts are part of the government’s strategy to improve operational efficiency, attract foreign investment, and reduce the financial burden on public resources by engaging credible international investors.