ISLAMABAD, AUG 9 /DNA/ – The Privatisation Commission (PC) has signed a Financial Advisory Services Agreement (FASA) with a consortium led by KPMG which includes Bridge Factor (a Corporate Finance Advisory firm), Haidermota & Co. (a legal firm), HRSG (a HR Firm) & Asiatic Public Relations ( a media PR firm), for the privatisation of House Building Finance Company Limited (HBFCL). The consortium brings together established expertise in financial advisory, transaction structuring and execution to support the Privatisation Commission in taking the HBFCL privatisation process forward.

This would be the second attempt to privatise House Building Finance Company Limited (HBFCL), reflecting a renewed effort by the Privatisation Commission. In the previous attempt, only a single bidder i.e. Pakistan Mortgage Refinance Company Limited (PMRCL); was pre-qualified. However, the privatisation could not be successfully concluded as the bid submitted was rejected by the Privatisation Commission for being lower than the Reference Price approved by the Federal Cabinet.

Under the agreement, the Financial Advisor will undertake comprehensive due diligence of HBFCL, advise on an optimal transaction structure, conduct valuation, and support the Privatisation Commission throughout the marketing and execution of the transaction.

The privatisation of HBFCL is expected to contribute to the development of Pakistan’s housing finance sector by leveraging private-sector expertise, improving governance and operational efficiency, and facilitating greater access to housing finance. A stronger and more competitive HBFCL can help expand financing opportunities, particularly for low- and middle-income households, and support the Government’s broader objective of promoting affordable housing in the country.

The Privatisation Commission will continue to work closely with the Financial Advisor and relevant stakeholders to ensure that the transaction progresses in accordance with the approved process and established regulatory requirements.