Under which amount were the habib bank and the UBL privatized
Answers
Answer:
In April 2015, the Government of Pakistan sold its 41.5% stake or 609 million shares in the bank for $1.02 billion. According to the finance ministry, the strike price of Rs. 168 per share (compared to the floor price of Rs. 166 per share) was recommended by the Privatization Commission Board.
In February 2004, the Bank was privatized and management control was handed over to AKFED. By April 2015, the Government of Pakistan divested its entire shareholding of 41.5% through the Privatization Commission of Pakistan, making HBL Pakistan's largest private Bank.
Answer:
Under the price of Rs. 168 per share , the Habib bank and the UBL were privatized .
Explanation:
The Government started the privatisation program afresh and offered 108 (SOEs) out of 128 and in less than 18 months, 66 (SOEs) were privatised.
Therefore, in 1991, Pakistan formally institutionalized the privatisation activity by establishing “Privatisation Commission (PC)”.
According to the finance ministry, the strike price of Rs. 168 per share (compared to the floor price of Rs. 166 per share) was recommended by the Privatization Commission Board. In February 2004, the Bank was privatized and management control was handed over to AKFED.