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Report: Pakistan-based SME Bank's sale draws interest from multiple investors

Pakistan's government has received interest from multiple investors for its 93.88% stake in SME Bank Ltd., The News International reported March 31, citing unnamed sources.

At least 10 investors, including two development finance institutions and one microfinance bank, have expressed interest in acquiring the government's stake, one of the sources said. The report came after Pakistan's cabinet committee on privatization in January approved a sale of the stake in the bank.

The government has already extended the deadline for submission of expressions of interest and other related documents for SME Bank to April 7 from March 17.

The sale process is likely to be completed by June 30, the source added.