The privatization of Zarai Taraqiati Bank Limited has moved into a key phase. The Privatisation Commission Board has approved the proposed transaction structure.
The board also approved a restructuring plan for the state-owned bank. Official documents confirmed the latest development.
The transaction structure was prepared by the financial adviser. It was presented to the Privatisation Commission Board on April 29, 2026.
The board approved the adviser’s recommendations for further consideration. The recommendations were then sent to the Cabinet Committee on Privatization.
Approval from the Cabinet Committee and federal cabinet remains a major step. After these approvals, the government will invite potential investors.
Interested investors and bidders will be able to participate in the ZTBL privatization process. Several stages will follow before the transaction is completed.
These stages include publishing an expression of interest. The government will then begin the prequalification process for potential bidders.
Buy-side due diligence will also be completed during the process. Competitive bidding will follow after the required preparations.
The final stage will involve financial closure. This will complete the major steps required for the privatization transaction.
The final Due Diligence Report for ZTBL has already received approval. The Transaction Committee approved the report after detailed reviews.
The financial adviser initially submitted the Enterprise Due Diligence Report. The Transaction Structure Report was also submitted on November 11, 2025.
The documents went through several rounds of review and consultation. The Privatisation Commission, ZTBL, the State Bank of Pakistan and other stakeholders participated.
The financial adviser later submitted revised reports on January 18, 2026. Another revised submission was made on April 24, 2026.
The Transaction Committee approved the final Due Diligence Report during meetings on May 25 and June 17. This cleared another important stage.
The federal cabinet had approved the privatization of ZTBL on August 13, 2024. The decision was made under the government’s Privatization Programme 2024-29.
The Privatisation Commission Board later classified the bank’s sale as a major privatization. This decision was made on September 30, 2024.
The board approved the top-ranked bidder on July 3, 2025. The selected consortium was led by Next Capital.
The Financial Advisory Services Agreement was signed on August 8, 2025. The ZTBL Transaction Committee was formed in September 2025.
The committee oversees the financial adviser’s work. It also reviews transaction matters and supports the privatization process.
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The latest approval brings the ZTBL privatization closer to the bidding stage. Further government approvals will determine the timeline for the next phase.
