The Privatisation Commission (PC) Board has approved the signing of the Transaction Advisory Services Agreement (TASA) with the Asian Development Bank (ADB) for the outsourcing of operations at Islamabad International Airport (IIAP). The decision was taken at a meeting of the PC Board chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.
Board Reviews and Approves TASA Terms
During the meeting, the Board reviewed the negotiated terms of the TASA and approved the agreement reached with the 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.
Outsourcing Framework for Islamabad Airport
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.
External Auditors Appointed
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. The PC Board resolved to continue ensuring transparency, efficiency, and the maintenance of high standards to further strengthen investor confidence in the government’s privatisation programme.
According to the Privatisation Commission, the ADB's involvement is expected to bring global best practices to the transaction, ensuring a transparent and competitive process. The move is part of broader efforts to improve airport infrastructure and services in Pakistan.
