ISLAMABAD, Oct 15 (APP): The Cabinet Committee on Inter-Governmental Transactions (CCoIGT) has approved the bid offer, being higher than the reference price, for the privatisation of First Women Bank Limited (FWBL).
This key milestone paves the way for successful privatisation and a government-to-government (G2G) transaction with the UAE’s nominated entity owned by International Holding Company (IHC), boosting FDI inflows and reinforcing investor confidence in Pakistan.
The meeting of the committee was held here on Wednesday under the chairmanship of Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar.
The deputy PM appreciated the efforts of the Privatization Commission and all those associated with this important transaction. He expressed satisfaction over the progress made and reaffirmed the Government’s commitment to economic reform and transparency in the privatisation process.
The meeting was attended by the Minister for Petroleum, Minister for Privatisation, Minister of State for Railways, Secretary Cabinet Division, Secretary Privatisation, senior officials of the Privatisation Commission, and other concerned ministries and departments.