Islamabad, JUL 10 /DNA/ – The Privatisation Commission (PC) Board has officially approved the appointment of the Asian Development Bank (ADB) as the Financial Adviser for the outsourcing of operations at Islamabad International Airport (IIAP). The decision was made during the Board’s 255th meeting, chaired by Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.

During the meeting, the Board reviewed and signed off on the terms of the Transaction Advisory Services Agreement (TASA) negotiated with the ADB. Expressing full confidence in the multilateral lender’s expertise, the Board stated that ADB is well-positioned to execute the transaction efficiently, ensuring maximum competition and transparency throughout the bidding process.

Under the new framework, IIAP will be outsourced to a qualified private sector operator via a competitive bidding process, structured under a long-term concession framework. The privatisation initiative is aimed at enhancing operational efficiency, elevating the passenger experience, and bringing airport services in line with international best practices.

In addition to the airport transaction, the PC Board granted approval for the appointment of BDO Ebrahim & Company, Chartered Accountants, as external auditors. The firm will oversee the audit of the Commission’s financial records for three fiscal years, spanning 2025–26 to 2027–28, following a recommendation from the Board’s Audit Committee.

Reaffirming its commitment to good governance, the PC Board resolved to continue upholding transparency, efficiency, and rigorous standards to further strengthen investor confidence in the government’s ongoing privatisation programme.