ISLAMABAD, Aug 21: A preliminary meeting of representatives of potential buyers of Habib Bank Limited has laid out an aggressive schedule for privatization with bidding date of December 2003.

The interested parties have already submitted their statements of qualification (SoQ) for participation in the privatization of Habib Bank Limited. Privatization Commission secretary Ahmad Waqar presided over the meeting.

The opening of the ‘data room’ and start of the process of due diligence by the potential investors is expected to begin in September 2003. Competition to acquire HBL is expected to be tough with all the investors demonstrating serious interest in Pakistan’s premier banking institution.—APP