Pakistan appoints Asian Development Bank (ADB) as financial Adviser

The privatization commission (PC) of Pakistan has approved the signing of a Transaction Advisory Services Agreement (TASA) with the Asian Development Bank (ADB) for the outsourcing of operations of Islamabad International Airport (IIAP).

The decision was made at the privatization commission’s 255th board meeting, chaired by Muhammad Ali, adviser to the prime minister on privatization and chairman of the Privatization Commission.

According to the Privatization commission of Pakistan, the airport will be offered to a qualified private operator under a long-term concession through a competitive bidding process. The board approved the terms of the negotiated agreement with the ADB, which will act as transaction adviser for the project.

Board members said they were confident the ADB’s experience would help complete the transaction transparently and competitively.

The commission said it expects the move to improve operational efficiency, enhance the passenger experience, and bring airport services in line with international standards.

Furthermore, the PC Board also granted approval for the appointment of BDO Ebrahim & Company, Chartered Accountants, as external auditors for the audit of three financial years from 2025–26 to 2027–28, on the recommendation of the Audit Committee of the Board.

The Privatization Commission said it remained committed to transparency, efficiency, and maintaining high standards as part of the government’s wider privatization program.