Govt gets $1.6 bn offer for its equity holding in HBL

ISLAMABAD: Privatization Commission Chairman Muhammad Zubair on Saturday said the government is getting an offer of 1.6 billion dollars against the shares of Habib Bank Limited which it has decided to offload.

Speaking at a press conference, he said selling HBL’s shares holds economic significance for the country, and due to government’s better policies the market has witnessed improvement.

He said the market surged to 35000 points and attributed it to the robust economic reforms introduced by the government. He said the share prices were making huge gains between May 2013 and February 2015.