KARACHI: Pakistan’s Privatization Commission on Friday appointed the Asian Development Bank (ADB) as financial adviser for the planned outsourcing of operations at Islamabad International Airport, according to an official statement, advancing the government’s efforts to bring in a private operator under a long-term concession framework.
The move comes as Pakistan pushes ahead with the privatization and restructuring of state-owned enterprises (SOEs) under economic reforms agreed with the International Monetary Fund (IMF), seeking to reduce the fiscal burden of loss-making public entities while improving the efficiency and quality of public services.
“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,” the Privatization Commission said in a statement after its board approved the Transaction Advisory Services Agreement (TASA) with the Manila-based lender.
“Islamabad International Airport will be outsourced to a qualified private sector operator under a long-term concession framework through a competitive bidding process,” it added.
Islamabad International Airport, inaugurated in 2018 at a cost of nearly $1 billion, has faced criticism over construction delays, inadequate facilities and operational inefficiencies.
The government says bringing private-sector expertise into public assets will improve governance and service delivery while reducing pressure on the national budget from financially struggling state-owned enterprises.
