ISLAMABAD, Oct 19 (APP): Advisor to the Federal Finance Minister Khurram Shehzad on Sunday said Pakistan has achieved its first strategic privatization in years by one of the largest global investor, marking a strong revival of economic reform and investor trust.
“United Arab Emirates (UAE) International Holding Company (IHC) has acquired the government’s stake (First Women Bank), valuing Rs 5 billion for 100 percent, signaling renewed foreign investor confidence in Pakistan’s market and governance framework”, he said on his official X handle.
IHC, a global investment giant with a market capitalization of over AED 880 billion (USD 240 billion), is the largest listed company in the Middle East and among the world’s top global investors, managing 1,300+ subsidiaries across financial services, technology, infrastructure, mining, energy and healthcare.
IHC plans to transform the newly acquired institution into a fully-fledged, AI-driven commercial bank, modernizing Pakistan’s financial landscape through digitalization, automation, and global best practices in risk and governance.
This acquisition is part of IHC’s broader multi-billion-dollar investment plan in Pakistan. IHC’s resources arm, International Resources Holding (IRH), already has major stakes in mining and energy, reflecting IHC’s deepening presence in high-growth sectors.
This milestone sends a strong message to global markets — Pakistan is firmly on the path of reform, offering a stable, transparent, and opportunity-rich environment for long-term investors.
Following high-level engagements in Washington DC, renewed Saudi, Emirati, Chinese, and Unites States interest, global rating upgrades, and a successful International Monetary Fund (IMF) review, Pakistan is now positioning itself as a credible, reform-driven investment destination.
With Privatization momentum underway, the country is focused on translating these gains into tangible, private sector–led opportunities for sustainable growth.