ISLAMABAD: A meeting of the Privatisation Commission Board under the chairmanship of the Federal Minister for Privatisation Fawad Hasan Fawad on Monday gave approval for the formation of a negotiation committee to initiate negotiations for concluding House Building Finance Company Limited (HBFCL) transaction besides the constitution of transaction committees for HBFCL and FWBL.

The board will reconvene tomorrow to consider approval of PIACL Legal Segregation/Draft Scheme of Arrangement and the transaction structure proposed by the financial advisor for the divestment. Subsequent to the approval of the board, the legal segregation plan as well as the transaction structure shall be taken to the federal cabinet through CCOP for final approval.

Copyright Business Recorder, 2024