HBFC barred from risky commercial loans.

The Privatisation Commission (PC) board on Tuesday barred the management of House Building Finance Company (HBFC) from taking expensive but risky commercial loans for their re-lending and investment in government debt, and picked two parties for privatisation of the entity. The PC board met under the chairmanship of Abid Hussain Bhayo, PC Chairman, and considered the privatisation of HBFC, an entity that had been on the active privatisation list for the past five years with little progress. At a time when the PC...