Privatization Commission appoints ADB as Financial Adviser for the IIAP

ISLAMABAD, Jul 10 (APP): Privatization Commission (PC) Board on Friday approved the signing of the Transaction Advisory Services Agreement (TASA) with the Asian Development Bank (ADB) for the outsourcing of operations of Islamabad International Airport (IIAP).

The approval to this effect was granted in a meeting, which held under the chairmanship of Adviser to the Prime Minister on Privatization and Chairman, Privatization Commission Muhammad Ali, said a press release issued by the Privatization Commission.

The PC Board reviewed the terms of the negotiated TASA and approved the agreement reached with ADB. 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.

Islamabad International Airport will be outsourced to a qualified private sector operator under a long-term concession framework through a competitive bidding process. The privatization is expected to enhance operational efficiency, improve passenger experience, and align airport services with international best practices.

Furthermore, the PC Board also granted approval for the appointment of BDO Ebrahim & Company, Chartered Accountants, as external auditors for the audit of three financial years from 2025–26 to 2027–28, on the recommendation of the Audit Committee of the Board.

The PC Board resolved to continue ensuring transparency, efficiency, and the maintenance of high standards to further strengthen investor confidence in the government’s privatization program.