ISLAMABAD, OCT 19 /DNA/ – In a historic move that marks the revival of Pakistan’s ambitious privatization program, the United Arab Emirates’ International Holding Company (IHC), one of the world’s largest investment conglomerates, has acquired a major state-owned entity for a total enterprise value of Rs. 5 Billion. The transaction represents the first strategic-scale privatisation in years and is being hailed as a powerful vote of confidence in the country’s economic reform agenda.
The acquisition was finalized with IHC purchasing the government’s stake, giving it 100% ownership. The deal is seen as a direct outcome of the government’s concerted efforts to stabilize the economy and re-engage with international investors.
IHC, with a staggering market capitalisation of over AED 880 billion (approximately USD 240 billion), is the largest listed company in the Middle East and a major global investor with a portfolio of over 1,300 subsidiaries. Its decision to enter Pakistan’s financial sector at this juncture sends a potent signal to the global investment community.
“This is more than a transaction; it is a strategic commitment to Pakistan’s future,” a statement from the company read. “IHC plans to transform the newly acquired institution into a fully-fledged, AI-driven commercial bank, leveraging digitalisation, automation, and global best practices in risk and governance to modernise Pakistan’s financial landscape.”
The acquisition is part of a broader, multi-billion-dollar investment strategy by IHC in Pakistan. Its resources arm, International Resources Holding (IRH), has already established a significant presence with major stakes in the country’s mining and energy sectors, indicating a deep, long-term commitment to high-growth areas of the Pakistani economy.
This landmark deal arrives on the heels of a series of positive economic developments for Pakistan. Following high-level engagements in Washington, a successful review by the International Monetary Fund (IMF), renewed investment interest from Saudi Arabia, China, and the United States, and recent upgrades by global rating agencies, the nation is actively repositioning itself as a credible, reform-driven investment destination.
Analysts suggest that the successful completion of this privatisation sets a crucial precedent, building momentum for the government’s broader agenda of transferring state-owned enterprises to the private sector. The focus is now on translating these macroeconomic gains into tangible, private sector-led opportunities that drive sustainable growth and job creation.
For global markets, the message is clear: Pakistan is firmly on a path of reform, aiming to offer a stable, transparent, and opportunity-rich environment for long-term international capital.
