Islamabad airport outsourcing moves ahead as ADB named financial adviser

ISLAMABAD:The Privatisation Commission Board on Friday approved the appointment of the Asian Development Bank (ADB) as financial adviser for the outsourcing of Islamabad International Airport's operations through a long-term concession.

The decision was taken at the 255th meeting of the Privatisation Commission Board, chaired by Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission Muhammad Ali, which approved the signing of the Transaction Advisory Services Agreement (TASA) with the ADB.

According to the Privatisation Commission, the Board reviewed the negotiated terms of the Transaction Advisory Services Agreement before giving its approval for the appointment of the multilateral development institution to advise the government on the transaction.

The Commission expressed confidence in ADB's ability to execute the assignment efficiently, stating that the bank's expertise and international 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 under a long-term concession through a competitive bidding process. The government expects the transaction to improve operational efficiency, enhance passenger services and bring airport operations in line with international best practices.

The outsourcing of Islamabad International Airport forms part of the government's broader privatisation agenda aimed at attracting private investment, improving service delivery and introducing greater operational efficiencies in key public sector entities.

In a separate decision, the Privatisation Commission Board also approved the appointment of BDO Ebrahim & Company, Chartered Accountants, as external auditors for the Commission's accounts for three financial years, from 2025-26 to 2027-28. The appointment was made on the recommendation of the Board's Audit Committee.

Reaffirming its commitment to transparent transactions, the Privatisation Commission said the Board resolved to continue ensuring transparency, efficiency and the maintenance of high governance standards to further strengthen investor confidence in the government's privatisation programme.