KPMG Consortium to Guide HBFCL Privatisation Drive
Pakistan Restarts HBFCL Sale with KPMG Advisory Consortium
HBFCL SALE REBOOTED
Illustration concept: A modern corporate office room in Pakistan with business executives signing legal documents around a large glass conference table, professional lighting, editorial news style.
AI summary
Pakistan has initiated a fresh attempt to sell House Building Finance Company Limited (HBFCL) by engaging a KPMG-led consortium as financial advisers. The advisory group will conduct due diligence, value assets, and structure the transaction after a previous sale attempt fell through due to low bids.
Why this matters
Restarting the HBFCL transaction reflects Pakistan's commitment to shedding non-core state enterprises to ease fiscal burdens. A structured sale could revitalize the domestic housing finance sector by introducing private sector capital and management efficiencies.
Key takeaways
- The Privatisation Commission signed a financial advisory agreement with a KPMG-led consortium to privatise HBFCL.
- The consortium features KPMG, Bridge Factor, Haidermota & Co., HRSG, and Asiatic Public Relations.
- Advisers will handle due diligence, valuation, transaction structuring, and marketing execution.
- This represents the second attempt to privatise HBFCL after a prior bid by PMRCL was rejected for being below the reference price.
Re-initiating its effort to divest state-owned financial institutions, Pakistan's Privatisation Commission has contracted a consortium led by advisory firm KPMG to steer the sale of House Building Finance Company Limited (HBFCL).
According to reports from Business Recorder, the formal signing of the Financial Advisory Services Agreement (FASA) marks a renewed push to transition the housing finance entity into private ownership. The multi-disciplinary advisory group includes Bridge Factor, legal advisors Haidermota & Co., human resources firm HRSG, and communications agency Asiatic Public Relations.
Under the newly executed contract, the advisory team is mandated to perform thorough financial and operational due diligence on HBFCL. Their responsibilities also encompass determining the company's valuation, proposing an effective transaction framework, and guiding the Privatisation Commission through the marketing and execution phases.
This decision follows a stalled earlier attempt to privatise the mortgage lender. In the previous bidding cycle, Pakistan Mortgage Refinance Company Limited (PMRCL) emerged as the sole qualified contender. However, the Privatisation Commission ultimately discarded the proposal because the offered price failed to meet the government's official reference threshold.
Frequently asked questions
- Why is HBFCL being privatised?
- The privatisation is part of the government's broader initiative to offload state-owned enterprises and encourage private investment in the housing finance sector.
- Who is in the financial advisory consortium?
- The consortium is led by KPMG and includes Bridge Factor, Haidermota & Co., HRSG, and Asiatic Public Relations.
- What caused the first privatisation effort to fail?
- The previous attempt was called off after the sole qualified bidder, Pakistan Mortgage Refinance Company Limited (PMRCL), submitted a bid below the government's approved reference price.
Source & transparency
- By:
- The Reviser Desk
- Source:
- Business Recorder
- Original publication:
- Aug 9, 2026, 3:24 PM
- The Reviser publication:
- Aug 9, 2026, 3:24 PM
- Updated:
- Aug 9, 2026, 3:30 PM
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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