{"id":17808,"date":"2023-07-11T12:27:37","date_gmt":"2023-07-11T07:27:37","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=17808"},"modified":"2023-07-11T12:27:37","modified_gmt":"2023-07-11T07:27:37","slug":"government-approves-sale-of-hbfc-in-privatization-drive","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/government-approves-sale-of-hbfc-in-privatization-drive\/","title":{"rendered":"Government Approves Sale of HBFC in Privatization Drive"},"content":{"rendered":"<p>ISLAMABAD: The government of Pakistan has decided to sell the House Building Finance Company (HBFC) through a negotiated deal.<\/p>\n<p>However, the decision on appointing a financial adviser for the privatization of the Roosevelt Hotel in New York has been deferred.<\/p>\n<p>These decisions were made during a meeting of the Cabinet Committee on Privatization (CCOP) chaired by Finance Minister Ishaq Dar.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/controversial-delays-in-privatization-of-lahores-services-international-hotel-despite-full-payment\/\" target=\"_blank\" rel=\"dofollow\" class=\"u7d81ada046e32362c79085a18d5b0f52\"><style> .u7d81ada046e32362c79085a18d5b0f52 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u7d81ada046e32362c79085a18d5b0f52:active, .u7d81ada046e32362c79085a18d5b0f52:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u7d81ada046e32362c79085a18d5b0f52 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u7d81ada046e32362c79085a18d5b0f52 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u7d81ada046e32362c79085a18d5b0f52 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u7d81ada046e32362c79085a18d5b0f52:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Controversial Delays in Privatization of Lahore's Services International Hotel Despite Full Payment<\/span><\/div><\/a><\/div>\n<p>The CCOP discussed the privatization process of Roosevelt Hotel, and after consultation with the aviation ministry, it was decided to defer the decision on appointing a financial adviser.<\/p>\n<p>The aviation ministry&#8217;s response regarding the hiring of a financial adviser was not clear, and the committee members were concerned about the potential additional costs.<\/p>\n<p>In another development, the CCOP approved the handing over of Services International Hotel (SIH) to the buyer after two years of privatization.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/government-de-lists-tcps-plot-from-privatization-list\/\" target=\"_blank\" rel=\"dofollow\" class=\"u34979b54389a46ba8f4bb75644fe3e4d\"><style> .u34979b54389a46ba8f4bb75644fe3e4d { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u34979b54389a46ba8f4bb75644fe3e4d:active, .u34979b54389a46ba8f4bb75644fe3e4d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u34979b54389a46ba8f4bb75644fe3e4d { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u34979b54389a46ba8f4bb75644fe3e4d .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u34979b54389a46ba8f4bb75644fe3e4d .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u34979b54389a46ba8f4bb75644fe3e4d:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Government De-lists TCP's Plot from Privatization List<\/span><\/div><\/a><\/div>\n<p>The Privatization Commission submitted a summary of the sale of SIH, and the committee allowed the commission to proceed with the transaction and complete the transfer and mutation process in the name of the purchaser.<\/p>\n<p>Regarding the sale of HBFC, the CCOP decided to proceed with a single source and a negotiated transaction with the Pakistan Mortgage Refinance Company Limited (PMRCL) as the pre-qualified bidder.<\/p>\n<p>It is worth noting that the HBFC has been on the active privatization list since 2018, and after considering four interested parties, PMRCL emerged as the sole bidder.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/privatization-of-jinnah-convention-centre-again-in-impasse\/\" target=\"_blank\" rel=\"dofollow\" class=\"u3b300898d270159900dfb90fc5d700c8\"><style> .u3b300898d270159900dfb90fc5d700c8 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u3b300898d270159900dfb90fc5d700c8:active, .u3b300898d270159900dfb90fc5d700c8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u3b300898d270159900dfb90fc5d700c8 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u3b300898d270159900dfb90fc5d700c8 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u3b300898d270159900dfb90fc5d700c8 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u3b300898d270159900dfb90fc5d700c8:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Privatization of Jinnah Convention Centre Again in Impasse<\/span><\/div><\/a><\/div>\n<p>The CCOP also discussed the budget estimates for the Privatization Commission for the fiscal year 2023-24, amounting to Rs. 1.25 billion.<\/p>\n<p>Furthermore, the CCOP deferred decisions on the privatization of Pakistan Engineering Company (PECO) and Sindh Engineering Limited (SEL).<\/p>\n<p>Besides, the Secretaries of the Privatization Commission, Law, and Industries have been directed to hold consultations and come up with a future course of action for both entities.<\/p>\n<p><em>Source: Tribune<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The government of Pakistan has decided to sell the House Building Finance Company (HBFC) through a negotiated deal. However, the decision on appointing a financial adviser for the privatization of the Roosevelt Hotel in New York has been deferred. These decisions were made during a meeting of the Cabinet Committee on Privatization (CCOP) chaired by Finance Minister Ishaq Dar. The CCOP discussed the privatization process of Roosevelt Hotel, and\u2026<\/p>\n","protected":false},"author":3,"featured_media":17809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-17808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/07\/ProProperty-Design-Template-1000x560-1-2.jpg",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/07\/ProProperty-Design-Template-1000x560-1-2.jpg",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/07\/ProProperty-Design-Template-1000x560-1-2.jpg",1000,560,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"Government Approves Sale of HBFC in Privatization Drive","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=17808","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/17808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=17808"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/17808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/17809"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=17808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=17808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=17808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}