The Privatisation Commission Board on Friday approved the signing of a Transaction Advisory Services Agreement (Tasa) with the Asian Development Bank (ADB) for the outsourcing of operations at Islamabad International Airport.
The decision was taken during the board’s 255th meeting, chaired by Adviser to the Prime Minister on Privatisation and Privatisation Commission Chairman Muhammad Ali.
The board reviewed the terms of the negotiated agreement and approved the arrangement reached with ADB, the Ministry of Privatisation said in a statement.
It expressed confidence that the bank’s expertise and experience would help complete the transaction expeditiously while ensuring maximum competition and transparency throughout the process.
Under the approved framework, Islamabad International Airport will be outsourced to a qualified private-sector operator through a competitive bidding process. The arrangement will be carried out under a long-term concession framework designed for the airport’s future operations.
According to the Privatisation Commission, the proposed outsourcing is expected to enhance operational efficiency, improve passenger experience and align airport services with international best practices.
The board further resolved to continue ensuring transparency, efficiency and the maintenance of high standards in order to strengthen investor confidence in the government’s privatisation programme.
Earlier this month, it emerged that the federal government added Pakistan’s three largest international airports to its revised five-year privatisation programme alongside seven power distribution companies, The News reported, citing official documents.
The development was part of a plan to divest or restructure 25 state-owned entities in three phases.
According to the updated privatisation plan, the Jinnah International Airport Karachi, Islamabad International Airport, and Allama Iqbal International Airport Lahore have been added to the list of state-owned assets earmarked for private sector participation. The three airports were not part of the government’s earlier privatisation programme.
