The Privatisation Commission (PC) has appointed the Asian Development Bank (ADB) as financial adviser for outsourcing of operations of the Islamabad International Airport (IIAP).
The decision was taken in the 255th meeting of the PC Board held on Friday under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission, the PC said in a statement.
The Board approved the signing of the Transaction Advisory Services Agreement (TASA) with the ADB for the IIAP. “The PC Board reviewed the terms of the negotiated TASA and approved the agreement reached with ADB. The PC Board expressed confidence that ADB, with its expertise and experience, will be able to successfully complete this important transaction expeditiously while ensuring maximum competition and transparency.
“Islamabad International Airport will be outsourced to a qualified private sector operator under a long-term concession framework through a competitive bidding process. The privatisation is expected to enhance operational efficiency, improve passenger experience, and align airport services with international best practices,” the statement read.
Furthermore, the PC Board also granted approval for the appointment of BDO Ebrahim & Company, Chartered Accountants, as external auditors for the audit of three financial years from 2025-26 to 2027-28, on the recommendation of the Audit Committee of the Board.