The Privatisation Commission has engaged the Asian Development Bank as financial adviser for the outsourcing of Islamabad International Airport under a newly signed advisory agreement aimed at ensuring an efficient, transparent and globally competitive transaction process.
The Privatisation Commission and the Asian Development Bank (ADB) have formalised their partnership for the outsourcing of Islamabad International Airport by signing the Transaction Advisory Services Agreement (TASA).
The agreement appoints ADB as the Financial Adviser for the transaction, enabling it to support the Privatisation Commission throughout the outsourcing process with specialised technical, financial, legal, environmental and commercial expertise.
Officials said the advisory support will help structure the transaction in accordance with international best practices and facilitate a transparent and competitive bidding process designed to attract leading global airport operators and investors.
The agreement was signed by ADB Pakistan Country Director Emma Fan and Director General of the Privatisation Commission Shahid Dayo. The signing ceremony was witnessed 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 of both organisations.
According to the Privatisation Commission, the agreement represents a significant step towards implementing the government’s privatisation agenda by bringing international expertise to the outsourcing process while promoting transparency, competitiveness and long-term operational sustainability at Islamabad International Airport.
