December 21, 2003	Sunday	Shawwal 26, 1424

ISLAMABAD, Dec 20: The Privatization Commission is holding a pre-bid conference for the privatization of Habib Bank Limited on Monday.

According to a handout issued here on Saturday, the Privatization Commission had received 19 expressions of interest for the privatization of HBL. The terms of a sale include the transfer of management control of HBL.

The investors who have expressed interest for HBL include parties from Canada, Europe, the UK, the US, Saudi Arabia, the UAE, Qatar and Yemen along with domestic investors.

HBL is Pakistan’s second largest commercial bank having a country-wide and international branch network. The bank has full service licence covering commercial, retail banking, consumer and investment banking activities in Pakistan and most of the other countries where it is present.

HBL has an extensive domestic network consisting of 1,425 branches with a market share of 20 per cent. HBL operates a large international network of 48 branches in 26 countries spread over Europe, the Middle East, Far East, Asia, Africa and the United States.

The Privatization Commission, together with its appointed advisers AP Ferguson & Co and legal advisers Haidermpta & Co, is in the process of the competitive bid, negotiation and sale process in accordance with the privatization laws of Pakistan.