May 28, 2021: Federal Minister for Privatisation Mohammedmian Soomro held a meeting with Governor State Bank via Zoom yesterday. The objective was to seek assistance from the SBP in resolving the inherent issues related to SME Bank and HBFCL.
The State Bank was requested to consider the incentive(s) granted to other banks for the transaction of House Building Finance Corporation Limited (HBFCL) and others. It was also discussed that the banks may be allowed to participate in privatisation of other transactions as well.
Later today Federal Minister for Privatisation also met with President/CEO Samba Bank and his team. They were briefed about the opportunities in the Privatisation process. After delays due to the Covid-19 and other factors, the Privatisation process is moving ahead in conformity with the requirements of the Privatisation Ordinance 2000.
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