The Cabinet Committee on Inter-Governmental Transactions (CCoIGT) has approved a bid, which exceeds the reference price, for the privatisation of First Women Bank Limited (FWBL).

The meeting was held under the chairmanship of Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, during which the committee approved the bid for the privatisation of First Women Bank Limited (FWBL).

This milestone paves the way for a successful privatisation and a government-to-government (G2G) transaction with the UAE’s nominated entity, by International Holding Company (IHC), boosting FDI inflows and reinforcing investor confidence in Pakistan.

The deputy prime minister appreciated the efforts of the Privatisation Commission and all those associated with this important transaction.

He expressed satisfaction over the progress made and reaffirmed the Government’s commitment to economic reform and transparency in the privatisation process.

The meeting was attended by the ministers for petroleum, privatisation, railways, the cabinet secretary, privatisation secretary, senior officials of the Privatisation Commission, and other concerned ministries and departments.