The Asian Development Bank will advise the Privatisation Commission on outsourcing Islamabad International Airport after both sides signed a Financial Advisory Services Agreement, paving the way for a transparent and internationally competitive transaction to attract leading airport operators.
The Privatisation Commission of Pakistan and the Asian Development Bank (ADB) have signed a Transaction Advisory Services Agreement (TASA), under which the multilateral lender will serve as the Financial Adviser for the outsourcing of Islamabad International Airport.
The agreement was signed by ADB Pakistan Country Director Emma Fan and Director General of the Privatisation Commission Shahid Dayo on behalf of their respective organisations.
Under the agreement, ADB will provide end-to-end transaction advisory services, including technical, financial, legal, commercial and environmental expertise, to support the structuring and execution of the outsourcing transaction in line with international best practices.
According to the Privatisation Commission, the advisory services are intended to ensure a transparent, competitive and market-driven process capable of attracting internationally recognised airport operators and investors.
The signing ceremony was attended by Adviser to the Prime Minister on Privatisation and Chairman Privatisation Commission Muhammad Ali, Secretary Privatisation Commission Usman Akhter Bajwa, Secretary Privatisation Division Hammad Shamimi, ADB Deputy Country Director Syed Hussain Haider and senior officials from both organisations.
Officials said the agreement marks another milestone in the government’s privatisation programme and reflects its commitment to improving operational efficiency, service quality and the long-term sustainability of Islamabad International Airport through private sector participation.
