Privatisation Commission approves financial adviser for outsourcing Karachi, Lahore airports

Pakistan's Privatisation Commission has moved forward with plans to outsource operations at two major airports, approving the appointment of a financial adviser for the Jinnah International Airport in Karachi and the Allama Iqbal International Airport in Lahore. The board of directors selected a consortium led by EY-Parthenon as the highest-ranked bidder for this crucial advisory role.

A negotiation committee has been formed to finalize the Financial Advisory Services Agreement with the chosen consortium. This move is part of a broader strategy to enhance efficiency and potentially generate revenue through private sector involvement in public infrastructure.

In parallel, the commission is pursuing the privatization of the Lahore Electric Supply Company (Lesco) and Multan Electric Power Company (Mepco). The Manila-based Asian Development Bank was previously appointed as the financial and transaction adviser for the outsourcing of the New Islamabad International Airport, indicating a comprehensive approach to privatizing key state assets.