KPMG Consortium Appointed for HBFCL Privatisation Drive
Pakistan Initiates Second Attempt to Privatise State Mortgage Lender HBFCL
HBFCL PRIVATISATION BID REVIVED
Illustration concept: A modern corporate office setting showing financial advisors working on transaction documents with subtle Pakistani financial sector elements, realistic journalistic style.
AI summary
The Privatisation Commission of Pakistan has signed an advisory agreement with a KPMG-led consortium to execute the privatisation of House Building Finance Corporation Limited. This marks the government's second effort to sell the state-owned housing finance lender following a previously unsuccessful bidding attempt.
Why this matters
Divesting state-owned entities remains a central pillar of Pakistan's economic reform agenda. A successful transaction for HBFCL could enhance private sector participation in the domestic mortgage market while generating fiscal revenue for the government.
Key takeaways
- The Privatisation Commission signed a Financial Advisory Services Agreement with a KPMG-led advisory group on Sunday.
- The consortium includes Bridge Factor, Haidermota & Co., HRSG, and Asiatic Public Relations to handle legal, HR, finance, and PR roles.
- This marks the government's second attempt to privatise state-owned housing lender HBFCL.
- The previous sale attempt failed after the lone pre-qualified bidder's offer fell short of the official reference price.
In a renewed effort to divest state assets, Pakistan's Privatisation Commission has formally engaged a consortium headed by accounting firm KPMG to manage the transaction process for House Building Finance Corporation Limited (HBFCL), according to reports from Dawn Business.
The Financial Advisory Services Agreement (FASA) was executed on Sunday, laying the groundwork for financial due diligence, asset valuation, and transaction structuring. Joining KPMG in the advisory group are corporate finance firm Bridge Factor, legal counsel Haidermota & Co., human resources firm HRSG, and media consultancy Asiatic Public Relations.
This agreement marks the government's second attempt to privatise the state-backed housing lender. An earlier divestment process stalled after failing to secure a successful buyer.
During the initial attempt, Pakistan Mortgage Refinance Company Limited (PMRCL) emerged as the sole pre-qualified bidder. However, the Privatisation Commission ultimately discarded the offer after the submitted bid fell short of the official reference price set for the entity.
Frequently asked questions
- Who is leading the advisory team for HBFCL privatisation?
- A consortium led by accounting firm KPMG has been appointed to oversee the financial advisory, valuation, legal, and transaction structuring processes.
- Why did the previous attempt to privatise HBFCL fail?
- The earlier attempt involved only one pre-qualified bidder, PMRCL, whose financial bid was rejected because it came in below the government's reference price.
- Which firms are part of the KPMG-led consortium?
- Besides KPMG, the group includes Bridge Factor for finance advisory, Haidermota & Co. for legal affairs, HRSG for human resources, and Asiatic Public Relations for media management.
Source & transparency
- By:
- The Reviser Desk
- Source:
- Dawn Business
- Original publication:
- Aug 10, 2026, 2:51 AM
- The Reviser publication:
- Aug 10, 2026, 2:51 AM
- Updated:
- Aug 10, 2026, 3:01 AM
This report was independently written by The Reviser editorial desk from verified source material. It is not original on-the-ground reporting by The Reviser.
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