Privatization Minister sets timelines for FWBL privatization

MG News | December 07, 2023 at 11:21 AM GMT+05:00

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December 07, 2023 (MLN): The caretaker Federal Minister for Privatization, Fawad Hasan Fawad on Wednesday established timelines for crucial prerequisites in the potential investor prequalification process for the privatization of First Women Bank Limited (FWBL), marking significant progress in the overall proceedings.

According to a press release issued on the same day, the Minister of Privatization presided over a meeting of the Privatization Commission along with the Financial Advisor and Management of FWBL.

This was the first high-level meeting following the extension of the Financial Services Agreement with the Financial Advisor as approved by the Privatisation Commission Board on November 10, 2023.

The Minister was briefed regarding the proposed plan of action for the privatization of FWBL.

Farrukh Iqbal, CEO and President of FWBL apprised the meeting on the status of audited accounts and the management accounts.

The Minister directed the Financial Advisor and the Management to expedite the process and to ensure that there are no delays.

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