ISLAMABAD: The Asian Development Bank (ADB) on Wednesday signed a Transaction Advisory Services Agreement (TASA) with Pakistan’s Privatisation Commission (PC) to provide advisory support for the outsourcing of Islamabad International Airport.
Under the agreement, ADB will act as the transaction adviser to assist the PC in structuring and implementing the outsourcing process.The signing ceremony was attended by ADB Country Director for Pakistan Emma Fan and Adviser to the Prime Minister on Privatization and Chairperson of the Privatisation Commission Muhammad Ali, along with senior officials from the ADB and the Ministry of Privatisation.
The transaction involves awarding a long-term concession for the operations and maintenance of Islamabad International Airport to a qualified private-sector operator through a transparent and competitive procurement process.
The government aims to improve operational efficiency, enhance service quality, improve passenger experience and maximise value through the concession arrangement.“I appreciate the Privatisation Commission’s efforts and achievements and reiterate ADB’s commitment to supporting private-sector development in Pakistan. ADB will leverage its expertise and experience from structuring and delivering similar strategic transactions to help ensure the success of this initiative,” said Country Director for Pakistan Emma Fan.
