PC Board Forms Committee to Negotiate with ADB on Islamabad Airport Privatisation

PAKISTAN

The Privatisation Commission Board (PC Board), in its 248th meeting held on Monday, constituted a Negotiation Committee to engage with the Asian Development Bank (ADB) over a potential Financial Advisory Services Agreement (FASA) for the proposed privatisation of Islamabad International Airport (IIA).

The meeting was chaired by Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission. The Board’s decision follows its earlier approval to initiate direct negotiations with ADB under the Privatisation Commission (Hiring of Financial Adviser) Regulations, 2018.

According to an official statement, the Negotiation Committee has been mandated to conduct detailed discussions with ADB and submit its recommendations to the Board for consideration and approval in line with the applicable regulatory framework.

The proposed transaction envisions outsourcing airport operations under a concession model through an open and competitive bidding process. The government aims to enhance operational efficiency, improve service delivery standards, and ensure optimal value realisation for the national exchequer.

Separately, the PC Board reviewed and approved the audited financial statements of the Privatisation Commission for the fiscal year 2024–25, fulfilling statutory requirements.

Reaffirming its commitment to transparency, the Board said all privatisation transactions would be conducted in a competitive and rule-based manner to safeguard public interest and maximise value for the government. – ER News Desk

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