Dar led committee approves bid for FWBL, paving way for UAE G2G deal

ISLAMABAD: The Cabinet Committee on Inter-Governmental Commercial Transaction (CCoIGT) which met with Senator Ishaq Dar, Deputy Prime Minister/ Foreign Minister approved reference price of First Women Bank Limited (FWBL).
The Committee 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 G2G transaction with the UAE’s nominated entity owned by International Holding Company (IHC), boosting FDI inflows and reinforcing investor confidence in Pakistan.
The DPM/FM 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. Ends