Pakistan International Arlines (PIA) : News / Updates

Pakistan green lights key steps in FWBL, DISCOs privatisation drive​


Monitoring Desk


ISLAMABAD – In a significant move to reinvigorate its privatisation agenda, the Privatisation Commission board has approved crucial measures for the potential government-to-government sale of First Women Bank Limited (FWBL) to a UAE-nominated entity and for the disposal of two major power distribution companies.


Chaired by Muhammad Ali, the board in its 240th meeting recommended a reference price for FWBL to the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT). This step formally paves the way for negotiations under the Inter-Governmental Commercial Transactions Act of 2022, bringing the potential sale of the majority state-owned bank one step closer to conclusion.

A successful transaction is anticipated to inject fresh foreign direct investment and bolster international confidence in Pakistan’s economic reforms, the Commission stated.


In a parallel decision to accelerate the broader privatisation programme, the board also selected a consortium led by Raiffeisen as the preferred bidder to act as financial advisor for the sell-off of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO). A dedicated committee has been formed to finalise the advisory agreement.

The government, which holds an 82.64% stake in FWBL, is pursuing these sales under a framework emphasising transparency and efficiency to strengthen the country’s economic outlook and attract sustainable investment.
 
hydrabadi_arab said:
In a parallel decision to accelerate the broader privatisation programme, the board also selected a consortium led by Raiffeisen as the preferred bidder to act as financial advisor for the sell-off of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO). A dedicated committee has been formed to finalise the advisory agreement.
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This will be huge deal, these two DISCO's in Sindh loss hundreds of billions. As in typical Sindh style they are full of corrupt people from PPP and federal govt need to sell them asap.
 
hydrabadi_arab said:
In a parallel decision to accelerate the broader privatisation programme, the board also selected a consortium led by Raiffeisen as the preferred bidder to act as financial advisor for the sell-off of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO). A dedicated committee has been formed to finalise the advisory agreement.
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Isn't this a huge conflict of interest ? The financial advisor should be someone independent of any of the bidders . The preferred bidder would obviously give advice that is in its own interest rather than the interest of the seller ( people of Pakistan) .
 
Owaiz said:
Isn't this a huge conflict of interest ? The financial advisor should be someone independent of any of the bidders . The preferred bidder would obviously give advice that is in its own interest rather than the interest of the seller ( people of Pakistan) .
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You wouldn't say that if you knew about financial condition of HESCO and SEPCO.

Here is a map to explain situation outside Hazara and Punjab.

DISCO's losses map.

1760138134734.png
 
hydrabadi_arab said:
You wouldn't say that if you knew about financial condition of HESCO and SEPCO.

Here is a map to explain situation outside Hazara and Punjab.

DISCO's losses map.

View attachment 152989
Click to expand...
Whatever the situation is, if I am buying a property from you, will you hire me as an advisor to appraise its value or someone who will give you an independent and unbiased opinion ?
 
Khanivore said:
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probably trying to appease the foreign delegations who were in the country for something important......otherwise i've never seen even such meals on the 12-hr flights to Toronto.
Must be a one-off special

But yes the fleet size is a concern (ongoing).
 
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