Privatisation Commission, ADB sign financial advisory services agreement for outsourcing of Islama

ISLAMABAD, Jul 15 (APP): The Privatisation Commission (PC) of Pakistan and the Asian Development Bank (ADB) on Wednesday signed the Transaction Advisory Services Agreement (TASA).

Under the agreement, the ADB will serve as the Financial Advisor for the outsourcing of Islamabad International Airport said a press release.

The agreement was signed by Ms. Emma Fan, Country Director, Asian Development Bank, Pakistan Resident Mission, and Shahid Dayo, Director General, Privatisation Commission, on behalf of their respective organizations.

The signing ceremony was witnessed by Adviser to the Prime Minister on Privatisation and Chairman Privatisation Commission, Muhammad Ali; Secretary, Privatisation Commission, Usman Akhter Bajwa; Secretary, Privatisation Division, Hammad Shamimi;  Syed Hussain Haider, Deputy Country Director, Asian Development Bank, Pakistan Resident Mission; and senior officials of the Privatisation Commission and the Asian Development Bank.

Under the Agreement, ADB will provide comprehensive transaction advisory services, including technical, financial, legal, environmental, and commercial expertise to support the structuring and implementation of the transaction in accordance with international best practices.

The advisory services will facilitate a transparent, competitive, and market-driven process aimed at attracting leading international airport operators and investors.

The signing of the agreement marks an important milestone in the implementation of the Government’s privatisation programme and reflects its commitment to enhancing the efficiency, service quality, and long-term sustainability of Islamabad International Airport through private sector participation while ensuring transparency, competitiveness, and value for the people of Pakistan.