KARACHI: Pakistan’s Privatization Commission announced on Sunday that it has hired a consortium led by the KPMG as financial adviser in its bid to privatize the House Building Finance Company Limited (HBFCL).
The development is part of Pakistan’s broader privatization program, which aims to sell or restructure loss-making state-owned enterprises (SOEs) based on the International Monetary Fund’s (IMF) recommendations. The HBFCL is a Pakistani housing finance company which is a subsidiary of the central bank. It provides financing for people looking to buy, build, or construct homes.
The Privatization Commission canceled the HBFCL’s first sale in January this year, rejecting the bid submitted for being lower than the Reference Price approved by the federal cabinet.
The commission said it has signed a Financial Advisory Services Agreement (FASA) with a consortium led by KPMG which includes a corporate finance advisory firm Bridge Factor, legal firm Haidermota & Co., a human resource firm HRSG and a media public relations firm named Asiatic Public Relations for the HBFCL’s privatization.
“The consortium brings together established expertise in financial advisory, transaction structuring and execution to support the Privatization Commission in taking the HBFCL privatization process forward,” the commission said.
As per the agreement, the consortium will undertake comprehensive due diligence of the HBFCL, advise the commission on an optimal transaction structure, conduct valuation, and support the commission throughout the marketing and execution of the transaction.
“The privatization 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,” the statement added.
Pakistan’s government successfully privatized former national airline PIA in December 2025. A business consortium led by the Arif Habib Group acquired a 75 percent stake in the airline for Rs135 billion ($482 million), following a competitive bidding process that valued the carrier at Rs180 billion ($643 million).
Pakistan has also invited expressions of interest (EOIs) from investors as it gears up to privatize three power distribution companies.
