The Privatisation Commission Board has approved the signing of a transaction advisory services agreement with the Asian Development Bank (ADB) for the outsourcing of operations at Islamabad International Airport.
The approval was granted during a board meeting held on Friday.
The agreement follows months of negotiations that began in February, when the board formed a negotiation committee to engage with the ADB on the terms of a financial advisory services agreement. The committee was tasked with holding negotiations and submitting its recommendations to the board for final approval.
The meeting held on Friday was chaired by Adviser to the Prime Minister on Privatisation and Privatisation Commission Chairman Muhammad Ali. The board reviewed the terms negotiated with the ADB and granted its formal approval to the agreement.
Board members expressed confidence that the ADB, given its expertise and experience, would be able to complete the transaction swiftly while ensuring maximum competition and transparency throughout the process.
Under the plan, Islamabad International Airport will be outsourced to a qualified private sector operator through a long term concession framework, awarded via a competitive bidding process.
The move is expected to improve operational efficiency, enhance the passenger experience, and bring airport services in line with international best practices. The government is aiming to complete the privatisation of Islamabad International Airport within the current fiscal year.
