The Cabinet Committee on Inter-Governmental Transactions has approved the bid offer for the privatization of First Women Bank Limited.
The committee, which met in Islamabad today with Deputy Prime Minister Ishaq Dar in the chair, approved the bid, being higher than the reference price.
This key milestone paves the way for successful privatisation and a G2G transaction with the UAE's nominated entity owned by International Holding Company, boosting Foreign Direct Investment inflows and reinforcing investor confidence in Pakistan.
Ishaq Dar appreciated the efforts of the Privatization 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.