The Asian Development Bank (ADB) on Wednesday signed a Transaction Advisory Services Agreement (TASA) with Privatization Commission to support the structuring and implementation of the outsourcing of Islamabad International Airport through a long-term concession aimed at improving efficiency, service quality and private sector participation.
ADB to advise Privatization Commission on outsourcing Islamabad International Airport
ISLAMABAD, Jul 15 (APP): The Asian Development Bank (ADB) on Wednesday signed a Transaction Advisory Services Agreement (TASA) with Privatization Commission to support the structuring and implementation of the outsourcing of Islamabad International Airport through a long-term concession aimed at improving efficiency, service quality and private sector participation.
“Under the agreement, ADB will serve as the transaction adviser to support the PC in structuring and implementing the outsourcing of Islamabad International Airport,” the bank wrote on X.
The signing ceremony was led by Emma Fan, ADB’s Country Director for Pakistan, and Muhammad Ali, Adviser to the Prime Minister on Privatization and Chairman of the Privatization Commission, with senior officials from ADB and the Ministry of Privatization Commission present.
The transaction focuses on award of long-term concession for the operations and maintenance of the airport to a qualified private sector operator through a transparent and competitive procurement process, aiming to enhance operational efficiency, service quality, elevate the passenger experience, and optimizes value for government.
“I appreciate the Privatization Commission’s efforts and achievements and reiterate ADB’s commitment to support private sector development in Pakistan. ADB will leverage its expertise and lessons from structuring and delivering similar strategic transactions to ensure the success of this initiative,” said Emma Fan.
