The Privatization Commission Board on Friday approved the appointment of the Asian Development Bank (ADB) as transaction adviser for the outsourcing of operations at Islamabad International Airport under a long-term concession framework, according to the Ministry of Privatization.
In a statement issued after the board’s 255th meeting, the ministry said the board had approved the signing of a Transaction Advisory Services Agreement with the ADB to support the outsourcing process for Islamabad International Airport.
The ministry said the board reviewed the terms of the advisory agreement before approving the deal and expressed confidence that the ADB’s expertise and experience would help complete the transaction swiftly while ensuring transparency and competitive bidding.
Under the plan, the airport’s operations would be outsourced to a qualified private-sector operator through a transparent and competitive bidding process under a long-term concession arrangement.
The government said the outsourcing was expected to improve the airport’s operational efficiency, enhance passenger experience and upgrade airport facilities to meet international standards.
Earlier this month, the federal government added Pakistan’s three largest international airports, Lahore, Karachi and Islamabad, to its revised five-year privatization program. Neither of the three airports was part of the government’s earlier privatization program.
Also on Friday, the Privatization Commission Board approved the appointment of BDO Ebrahim & Co., Chartered Accountants, as external auditors for a three-year period covering fiscal years 2025-26 through 2027-28, following a recommendation by the audit committee.
The board also reaffirmed its commitment to maintaining high standards of transparency and performance to sustain investor confidence in the government’s privatization program, the ministry added.