The Federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting here at the Finance Division to review the progress on the Privatization of the SME Bank. Minister for Privatization Muhammad Mian Soomro also participated the meeting along with SAPM on Finance and Revenue Dr. Waqar Masood, Governor State Bank of Pakistan Dr. Reza Baqir and senior officials of the Ministry of Finance, Privatization Commission and State Bank of Pakistan.
It was briefed to the Finance Minister that the pre-bidding process is complete and interested parties have been shortlisted. The PC Board has also completed initial discussion/ consultations with the shortlisted bidders to facilitate them in the completion of their due diligence process. The Privatization Commission also informed the Finance Minister of the equity requirement of the SME Bank on which the Finance Minister directed SA PM on Revenue to assess the requirements and prepare a proposal for strengthening the balance sheet of the SME Bank.
The Minister for Privatization also informed that they are constantly in touch with the potential investors and will keep updating the Finance Ministry, SBP and all the other relevant stakeholders of the new developments. The Finance Minister affirmed his support for the Privatization Commission for the successful completion of the transaction.
