Islamabad, Lahore, Karachi Airports likely to be privatised under current plan

ISLAMABAD: The Privatisation Commission Board, chaired by Adviser to the Prime Minister on Privatisation Muhammad Ali, has recommended including three international airports — Islamabad, Lahore, and Karachi — in the ongoing privatisation programme, according to an official statement.

The board reviewed key developments related to the privatisation of House Building Finance Company Limited (HBFCL), Pakistan International Airlines (PIA), and the three airports.

The meeting finalised the reference price and sale-purchase agreement for HBFCL’s privatisation, recommending that the final terms be forwarded to the Cabinet Committee on Privatisation (CCoP) for approval.

According to the Privatisation Commission, Pakistan Mortgage Refinance Company Limited (PMRC) has submitted its bid for HBFCL. The bid will be opened after the reference price is approved and endorsed by the Cabinet.

The board also approved the inclusion of AKD Group Holdings in the consortium bidding for HBFCL, confirming that the inclusion was made in accordance with the consortium’s request and qualification statement.

HBFCL is one of four qualified consortia participating in the privatisation process of PIA, the statement added.

Regarding the airports, the board recommended that management and operational control of Islamabad, Lahore, and Karachi airports be handed over to the private sector on a long-term concession basis to enhance efficiency and service quality.

The Privatisation Commission Board reaffirmed its commitment to ensuring that all privatisation processes are conducted in a transparent, effective, and strategically planned manner.

PIA Privatization Likely to Enter Final Phase

Earlier, the privatization of Pakistan International Airlines (PIA) was expected to reach its final stage early next month.

Sources revealed that Arif Habib Limited, Fauji Fertilizer Company, Airblue, and Lucky Group are among the four contenders interested in acquiring a stake in the national carrier.

The interested firms have reportedly requested the government to ease certain conditions related to the privatization process. However, officials clarified that the PIA brand name will remain unchanged, and the national flag on its aircraft will not be removed.

According to sources, ownership of PIA will remain with Pakistani nationals, and foreign individuals or entities will not be allowed to participate as majority shareholders in the bidding process.

Earlier, the Privatization Commission Board had pre-qualified four investors for PIA’s privatization.