The government has launched a fresh attempt to privatize the House Building Finance Company Limited (HBFCL), appointing a KPMG-led consortium as the financial adviser for the proposed transaction.
The Privatisation Commission has signed a Financial Advisory Services Agreement with the consortium, which will be responsible for structuring the transaction, conducting due diligence, valuing HBFCL, and assisting with investor outreach and the execution of the privatization process.
The consortium comprises KPMG, Bridge Factor, Haidermota & Co., HRSG, and Asiatic Public Relations. Under the agreement, the advisers will assess HBFCL’s financial and operational position, recommend an appropriate transaction structure, determine the company’s valuation, and help attract potential investors.
The latest move comes after the government’s previous attempt to privatize HBFCL failed. Pakistan Mortgage Refinance Company Limited (PMRCL), the only prequalified bidder in the earlier process, submitted an offer below the reference price approved by the federal cabinet.
The renewed privatization effort is part of the government’s broader push to increase private-sector participation in housing finance and improve the management and governance of state-owned enterprises.
Officials expect the transaction to strengthen HBFCL’s operational performance, support the development of Pakistan’s housing finance market, and expand access to mortgage financing for low- and middle-income households.
The new privatization process will now focus on determining the value of HBFCL, developing a viable transaction structure, and attracting qualified investors to participate in the sale.
