On August 15, 2025, the Privatisation Commission of Pakistan signed a Financial Advisory Services Agreement (FASA) with a consortium led by Next Capital Limited to privatise Zarai Taraqiati Bank Limited (ZTBL), as announced by the Ministry of Privatisation. ZTBL, originally founded in 1961 as the Agricultural Development Bank of Pakistan (ADBP), is the country’s largest public-sector agricultural lender, providing services to farmers through its network of 501 branches nationwide.
The consortium, which includes Ijaz Ahmed and Associates, Baker Tilly, and others, will conduct due diligence, engage investors, and create a transparent bidding process for the divestment of ZTBL, a key priority in the government’s privatisation agenda. The board approved this consortium after it surpassed five competitors, including Arif Habib Ltd and JS Bank, and formed a Negotiation Committee to finalise the terms.
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The privatisation aims to modernise ZTBL by introducing advanced banking technologies, enhancing governance, and expanding financial products for agribusiness. Post-privatisation, ZTBL will deliver faster, accessible credit to farmers, fostering rural prosperity. The initiative reflects Pakistan’s commitment to private-sector investment and sustainable state-owned enterprise reform
Last month, the Senate Standing Committee questioned ZTBL’s inclusion in the privatisation program, raising concerns about its strategic rationale alongside the Pakistan Mineral Development Corporation. Despite debates, the government emphasises that privatising ZTBL will strengthen agricultural finance, aligning with economic reforms under a $7 billion IMF bailout.
ZTBL’s privatisation could transform Pakistan’s agricultural sector by enhancing efficiency and access to finance, impacting rural economies.
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