The federal government has officially launched the outsourcing process for Islamabad International Airport by appointing the Asian Development Bank (ADB) as its financial and transaction adviser.
The Transaction Advisory Services Agreement was signed between Privatisation Commission Director General Shahid Dayo and ADB Country Director Emma Fan. The signing ceremony was attended by Adviser to the Prime Minister on Privatisation Muhammad Ali, Privatisation Commission Secretary Usman Akhtar Bajwa, Privatisation Division Secretary Hammad Shamimi, and ADB Deputy Country Director Syed Hussain Haider.
ADB to Oversee the Transaction
Under the agreement, the ADB will provide comprehensive advisory services, including:
- Financial advisory
- Technical consultancy
- Legal support
- Environmental assessment
- Commercial transaction advisory
The bank will assist the government in structuring and executing the outsourcing process in line with international best practices.
Competitive Bidding Process
According to the government, the airport will be outsourced through a transparent and competitive bidding process designed to attract leading international airport operators and investors.
The due diligence phase is expected to be completed within three months, while the overall outsourcing process is targeted for completion within nine months. Officials aim to finalize the transaction during the current fiscal year.
First-of-Its-Kind Partnership
This marks the first time that a multilateral development institution has been appointed as the transaction adviser for a privatization project in Pakistan.
Karachi and Lahore Airports Next
The government has also initiated preparations to appoint a single financial adviser for the outsourcing of Karachi and Lahore International Airports.
Officials estimate that each of these airports has the potential to attract more than $500 million in private investment, supporting infrastructure upgrades, improved operational efficiency, and enhanced passenger services
