Pakistan's Privatisation Commission has formally engaged a KPMG-led consortium to steer the sale of House Building Finance Company Limited (HBFCL), marking a fresh attempt after an earlier sell-off effort collapsed over pricing. The Financial Advisory Services Agreement (FASA) was signed on Sunday, according to an official press release. Main Developments The agreement tasks the consortium with providing financial advisory, transaction structuring, and execution support to move the privatisation process forward. KPMG's team brings established expertise in these areas, the Privatisation Commission noted. Read also: Nepra Approves 30-Year Tariff for 102MW Gulpur Hydropower Project This initiative represents the second attempt to divest HBFCL, signalling renewed momentum behind the sell-off. The commission's press release framed the engagement as part of a determined push to conclude the transaction. Background The previous privatisation round faltered despite interest from Pakistan Mortgage Refinance Company Limited (PMRCL), which emerged as the only pre-qualified bidder. That attempt collapsed when the commission rejected PMRCL's bid for falling below the reference price approved by the federal cabinet. The Cabinet Committee on Privatisation (CCoP) had earlier endorsed the decision to proceed with HBFCL's sell-off, laying the groundwork for this renewed effort. HBFCL is a state-owned housing finance institution whose sale has been under consideration for an extended period. Why It Matters A successful HBFCL privatisation would mark a significant milestone in Pakistan's divestment programme, which has seen multiple stalled transactions. The involvement of a global advisory firm like KPMG may strengthen investor confidence in the process's credibility. The housing finance sector stands to benefit from private ownership, potentially improving access to mortgage financing. For the government, the sale represents progress on structural reforms and fiscal consolidation commitments. What's Next The KPMG-led consortium will now work with the Privatisation Commission to structure the transaction and prepare for the next bidding round. Key questions remain about how the reference price will be set this time to avoid a repeat of the previous rejection. Observers will watch for the formal timeline of the bidding process and whether additional bidders beyond PMRCL express interest. The commission's ability to attract competitive offers will likely determine whether this second attempt succeeds.