ISLAMABAD: The Board of Privatisation Commission on Friday made significant decisions concerning the ongoing privatisation of Pakistan International Airlines Corporation Ltd (PIACL) and the future management of the country’s three major airports — Islamabad, Lahore, and Karachi.
Chaired by the Adviser to the Prime Minister on Privatisation, the meeting approved the inclusion of AKD Group Holdings (Pvt) Ltd into the consortium led by Arif Habib Corporation Ltd (AHCL), following a formal request from the consortium.
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According to an official press release, the inclusion of AKD Group complies with the requirements set out in the Statement of Qualifications (SOQ). The AHCL-led consortium is among four pre-qualified bidders participating in the privatisation process of the national carrier.
The board also recommended to the Cabinet Committee on Privatisation (CCoP) that the Islamabad, Lahore, and Karachi international airports be added to the federal privatisation programme. The proposal envisions offering airport management on long-term concession agreements aimed at enhancing operational efficiency, service quality, and attracting foreign investment.
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In addition to the airline and airport matters, the board also reviewed the privatisation of the House Building Finance Company Ltd (HBFCL). It approved the reference price and finalised the terms of the Sale Purchase Agreement for submission to the CCoP.
The HBFCL transaction is being executed through a negotiated sale to the Pakistan Mortgage Refinance Company Ltd (PMRCL), which has been pre-qualified as the sole bidder. The CCoP and the federal cabinet had previously authorised a negotiated sale to a single pre-qualified bidder in July 2023. The PMRCL’s bid will be opened after the reference price receives final approval from the CCoP and subsequent ratification by the cabinet.
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Officials said these decisions mark a key step toward streamlining Pakistan’s privatisation process and attracting private investment into strategic sectors to improve governance and efficiency.