Govt revives HBFCL privatisation with KPMG-led consortium

August 10, 2026 (MLN): The Privatisation Commission (PC) has appointed a consortium led by KPMG as financial adviser for the proposed privatisation of House Building Finance Company Limited (HBFCL), marking the launch of a fresh effort to divest the state-owned housing finance institution.

The Financial Advisory Services Agreement (FASA) has been signed with the consortium comprising KPMG, Bridge Factor, Haidermota & Co., HRSG and Asiatic Public Relations.

The group will provide financial, legal, human resource and public relations expertise throughout the privatisation process.

Under the agreement, the financial adviser will conduct comprehensive due diligence of HBFCL, assess the company’s value, recommend an appropriate transaction structure and assist the Privatisation Commission in marketing and executing the transaction.

The latest move represents the government’s second attempt to privatise HBFCL. During the previous process, Pakistan Mortgage Refinance Company Limited (PMRCL) was the only entity to qualify as a bidder.

However, the transaction failed to materialise after the Privatisation Commission rejected the bid for being below the reference price approved by the Federal Cabinet.

The renewed privatisation process is aimed at bringing greater private-sector participation into the housing finance industry while improving HBFCL’s governance, operational performance and competitiveness.

The government expects a stronger HBFCL to expand access to housing finance, particularly for low- and middle-income segments, while supporting broader efforts to promote affordable housing across the country.

The Privatisation Commission will coordinate with the financial adviser and other relevant stakeholders to advance the transaction in line with the approved framework and applicable regulatory requirements.

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