Pakistan forms committee to negotiate financial advisory services for Islamabad airport privatization

This file photo shows a general view of the Islamabad International Airport on the outskirts of Islamabad, Pakistan, on April 18, 2018. (AFP/File)
Short Url
Updated 19 February 2026
Follow

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. 


Pakistani man convicted in US in political assassination plot tied to Iranian paramilitary

Updated 4 sec ago
Follow

Pakistani man convicted in US in political assassination plot tied to Iranian paramilitary

  • Asif Merchant, 47, worked for Pakistani banks for decades before going into clothing and other businesses
  • He testified he met a Revolutionary Guard operative who gave him countersurveillance training, assignments

NEW YORK: A Pakistani business owner who tried to hire hit men to kill a US politician was convicted Friday in a trial that showcased allegations of Iran-backed plotting on American soil.

As the Iran war unfolded in the Mideast, Asif Merchant acknowledged in a US court that he sought to put an assassination in motion during the 2024 presidential campaign — a plot that was quickly disrupted by American investigators before it had a chance to proceed.

A jury in Brooklyn convicted Merchant on terrorism and murder for hire charges.

The verdict after only a couple hours of deliberations followed a weeklong trial that included remarkable testimony from Merchant himself.

Merchant told the jury he was carrying out instructions from a contact in the Islamic Republic’s powerful paramilitary Revolutionary Guard. According to Merchant, the handler never specified a target but broached names including then-candidate Donald Trump, then-President Joe Biden and Nikki Haley, the former UN ambassador who was also in the race for a time.

The Iranian government has denied trying to kill US officials.

The nascent plot fell apart after Merchant showed an acquaintance what he had in mind by using objects on a napkin to depict a shooting at a rally. He asked the man to help him hire assassins. Instead, he was introduced to undercover FBI agents who were secretly recording him, as had the acquaintance.

Merchant told the supposed hit men he needed services that could include killing “some political person” and paid them $5,000 in cash in a parked car in Manhattan.

“This man landed on American soil hoping to kill President Trump — instead, he was met with the might of American law enforcement,” US Attorney General Pam Bondi said in a statement released after the conviction.

Merchant’s attorney, Avraham Moskowitz, didn’t immediately reply to a message seeking comment.

Merchant, 47, worked for Pakistani banks for decades before going into clothing and other businesses. He has two families, in Pakistan and Iran, and he sometimes visited the US for his garment business.

Merchant testified that he met a Revolutionary Guard intelligence operative about three years ago. The contact gave him countersurveillance training and assignments including the assassination scheme, Merchant said.

He maintained that he had to do his handler’s bidding to protect loved ones in Iran. The defendant said he reluctantly went through the motions but thought he’d be arrested and explain his situation to authorities before anyone was killed.

“I was going along with it,” he said, speaking in Urdu through a court interpreter.

Prosecutors emphasized that Merchant admitted taking steps to enact the plan on behalf of the Revolutionary Guard, which the US considers a foreign terrorist organization, and he didn’t proactively go to authorities.

Instead, he was packing for a flight to Pakistan when he was arrested on July 12, 2024, a day before an unrelated attempt on Trump’s life in Butler, Pennsylvania. Officials said it appeared the Butler gunman acted alone but that they had been tracking a threat on Trump’s life from Iran, a claim that the Islamic Republic called “unsubstantiated and malicious.”

When Merchant subsequently spoke to FBI agents to explore the possibility of a cooperation agreement, he didn’t say he had acted out of fear for his family.

Prosecutors argued that he didn’t back up a defense of acting under duress. Merchant sought to persuade jurors he simply didn’t think the agents would believe him because they seemed to “think that I am some type of super-spy,” which he said he was “absolutely not.”