ADB Appointed Adviser for Islamabad Airport Outsourcing
Pakistan has formally appointed the Asian Development Bank (ADB) as the financial and transaction adviser for the outsourcing of Islamabad International Airport, officially launching the transaction process.
The Transaction Advisory Services Agreement was signed between Privatisation Commission Director General Shahid Dayo and ADB Country Director Emma Fan, in a ceremony witnessed 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.
Pakistan Launches Airport Privatization With ADB Support
Under the agreement, ADB will provide technical, financial, legal, environmental, and commercial advisory services to structure and execute the outsourcing in line with international standards. The government has assured that the process will be conducted through a transparent and competitive bidding system to attract leading global airport operators and investors.
Officials said the outsourcing is expected to be completed within nine months, with the due diligence phase concluding in three months. The government aims to finalize the transaction within the current fiscal year. This marks the first time a multilateral development institution has been appointed as a transaction adviser for a privatization project in Pakistan. Preparations are also underway to appoint a single financial adviser for the outsourcing of Karachi and Lahore airports, which are expected to draw more than $500 million each in private investment.
