Islamabad: Important progress has been made in the outsourcing process of Islamabad International Airport, where an agreement was signed between the Privatisation Commission and the Asian Development Bank (ADB) to provide financial advisory services.
According to an official statement, the agreement was signed by Emma Fenn, Country Director of the Asian Development Bank in Pakistan, on behalf of the ADB, while Shahid Dayo, Director General of the Privatisation Commission, represented the Government of Pakistan. On this occasion, the advisor to the prime minister on privatisation and chairman of the ommission, Muhammad Ali, was also present at the ceremony.
According to the statement, under this agreement, the Asian Development Bank will serve as a financial advisor for the outsourcing of Islamabad Airport and will provide comprehensive advisory support throughout the transaction.
The statement added that ADB will provide professional advice on technical, financial, legal, environmental and commercial matters to ensure that the outsourcing process is completed in accordance with international standards, transparency and competitive principles.
According to officials, this cooperation will help increase the interest of world-renowned airport operators and international investors, which is expected to improve the management and operational quality of Islamabad Airport.
The statement also reiterated the commitment that the government, in collaboration with the private sector, will continue to implement reform measures to further improve the performance, facilities and quality of services provided to passengers at Islamabad International Airport.
