The Privatisation Commission Board (PC Board), in its 248th meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission, constituted a Negotiation Committee to engage with the Asian Development Bank (ADB) to negotiate the terms of a potential Financial Advisory Services Agreement (FASA) in connection with the proposed privatisation of Islamabad International Airport (IIA). This decision follows the Board’s earlier approval to initiate direct negotiations with ADB in accordance with the Privatisation Commission (Hiring of Financial Adviser) Regulations, 2018. The Negotiation Committee has been mandated to undertake negotiations and submit its recommendations to the Board for consideration and approval, in line with the applicable regulatory framework. The proposed transaction envisages the outsourcing of airport operations under a concession model through an open and competitive process, with the objective of enhancing operational efficiency and improving service delivery standards, while ensuring optimal value realization for the Government of Pakistan. In a separate agenda item, the PC Board reviewed and approved the audited financial statements of the Privatisation Commission for the fiscal year 2024–25, in accordance with statutory requirements. The PC Board reaffirmed its commitment to undertaking all privatisation transactions in a transparent, competitive, and rule-based manner to safeguard public interest and maximize value for the national exchequer
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