The Privatisation Commission (PC) has signed a Financial Advisory Services Agreement (FASA) with a consortium led by Next Capital Limited for the privatisation of Zarai Taraqiati Bank Limited (ZTBL), according to a PC statement on Friday.
The consortium brought together a powerhouse of expertise, including Ijaz Ahmed & Associates, Baker Tilly Mehmood Idrees Qamar, Executives Network International, Bridge Public Relations, Savills Pakistan (Pvt.) Limited, and Prima Global Consulting (Pvt.) Limited, the statement added.
ZTBL privatisation: PC Board approves appointment of FA
“This initiative reflects the government’s unwavering commitment to inviting private sector investment, modernising banking operations, and ensuring the long-term sustainability of state-owned enterprises (SOEs),” the PC said.
“More importantly, it marks a decisive step towards equipping ZTBL with the tools, capital, and agility needed to empower Pakistan’s farmers and agribusinesses like never before.”
The government maintains that privatisation of the ZTBL will help deliver faster and accessible credit to small farmers and rural communities.
“The privatisation of ZTBL is designed to catalyse investment in Pakistan’s agricultural future by combining private sector efficiency with ZTBL’s long-standing expertise in agricultural finance for fostering rural prosperity and ensuring farmers have timely access to essential financial resources.
“The signing of this FASA represents the first critical milestone in the privatisation journey. Under the agreement, the financial advisor will conduct sell-side due diligence, carry out market sounding, engage with potential investors, structure the transaction, market it to investors, and assist the Privatisation Commission in a transparent bidding processm, the PC said.
Comments
Comments are closed for this article.