ISLAMABAD: The federal government has decided to raise $400 million through divesting 250 million shares of Habib Bank Limited (HBL) at Rs166 per share.
This was decided during the Cabinet Committee on Privatization (CCoP) meeting, chaired by Federal Finance Minister Ishaq Dar. According to a Ministry of Privatization Commission official, the experts suggested the government to fix the floor price of share at Rs160, however, the CCOP fixed the price at Rs166.
Information Minister Pervaiz Rashid, Federal Minister for Planning and Development Ahsan Iqbal, Federal Minister for Petroleum & Natural Resources Shahid Khaqan Abbasi, Commerce Minister Khurram Dastagir Khan, Minister for Ports & Shipping Kamran Michael, Chairman PC Mohammad Zubair, Chairman Board of Investment Miftah Ismail, Secretary Finance Dr Waqar Masood, Advisor Finance Division Rana Assad Amin, Chairman SECP Zafarul Haq Hijazi and other senior officials from various ministries were also present in the meeting.
