ISLAMABAD: Prime Minister Shahid Khaqan Abbasi is in Saudi Arabia on a two-day official visit to attend the closing ceremony of the 24-nation Gulf Shield-1 joint military exercise, reported Radio Pakistan.
He is accompanied by Defense Minister Khurram Dastgir Khan and Chief of Army Staff Gen. Qamar Javed Bajwa.
The month-long exercise, aimed at strengthening military and security cooperation among regional countries, concludes on Monday. Pakistani ground, air, naval and special forces are participating.
It is the largest military exercise in the region in terms of diversity of troops, weapons systems and operational maneuvering.
Abbasi was received by the governor of the Eastern Province, Prince Saud bin Nayef. Pakistani Ambassador Khan Hasham bin Saddique and Saudi Ambassador Nawaf Al-Maliki were also present.
Pakistan PM attends closing ceremony of Gulf Shield-1 military exercise
Pakistan PM attends closing ceremony of Gulf Shield-1 military exercise
- He is accompanied by Defense Minister Khurram Dastgir Khan and Chief of Army Staff Gen. Qamar Javed Bajwa
- It is the largest military drill in the region in terms of diversity of troops, weapons systems and operational maneuvering
Pakistan forms committee to negotiate financial advisory services for Islamabad airport privatization
- Committee to engage Asian Development Bank to negotiate terms of financial advisory services agreement, says privatization ministry
- Inaugurated in 2018, Islamabad airport has faced criticism over construction delays, poor facilities and operational inefficiencies
ISLAMABAD: Pakistan’s Privatization Ministry announced on Wednesday that it has formed a committee to engage the Asian Development Bank (ADB) to negotiate a potential financial advisory services agreement for the privatization of Islamabad International Airport.
The Islamabad International Airport, inaugurated in 2018 at a cost of over $1 billion, has faced criticism over construction delays, poor facilities, and operational inefficiencies.
The Negotiation Committee formed by the Privatization Commission will engage with the ADB to negotiate the terms of a potential Financial Advisory Services Agreement (FASA) for the airport’s privatization, the ministry said.
“The Negotiation Committee has been mandated to undertake negotiations and submit its recommendations to the Board for consideration and approval, in line with the applicable regulatory framework,” the Privatization Ministry said in a statement.
The ministry said Islamabad airport operations will be outsourced under a concession model through an open and competitive process to enhance its operational efficiency and improve service delivery standards.
Pakistan has recently sought to privatize or outsource management of several state-run enterprises under conditions agreed with the International Monetary Fund (IMF) as part of a $7 billion bailout approved in September last year.
Islamabad hopes outsourcing airport operations will bring operational expertise, enhance passenger experience and restore confidence in the aviation sector.
In December 2025, Pakistan’s government successfully privatized its national flag carrier Pakistan International Airlines (PIA), selling 75 percent of its stakes to a consortium led by the Arif Habib Group.
The group secured a 75 percent stake in the PIA for Rs135 billion ($482 million) after several rounds of bidding, valuing the airline at Rs180 billion ($643 million).
Pakistan’s Finance Minister Muhammad Aurangzeb said this week the government has handed over 26 state-owned enterprises to the Privatization Commission.
