The privatization Commission of Pakistan and the Asian Development Bank signed a Transaction Advisory Services Agreement, or TASA, to support the outsourcing of Islamabad International Airport.
Under the agreement, the Asian Development Bank will serve as the financial adviser for the transaction and provide technical, financial, legal, environmental and commercial advisory services. The support is intended to help structure and implement the outsourcing process in line with international best practices.
The agreement was signed by Asian Development Bank Pakistan Country Director Emma Fan and privatization Commission Director General Shahid Dayo on behalf of their respective organizations.
The signing ceremony was attended by Adviser to the Prime Minister on Privatization and privatization Commission Chairman Muhammad Ali, privatization Commission Secretary Usman Akhter Bajwa, privatization Division Secretary Hammad Shamimi, Asian Development Bank Deputy Country Director Syed Hussain Haider and other senior officials from both organizations.
According to the privatization Commission, the advisory services will help ensure a transparent, competitive and market-driven process to attract leading international airport operators and investors.
The commission said the agreement marks an important milestone in the government’s privatization program and reflects its commitment to improving the efficiency, service quality and long-term sustainability of Islamabad International Airport through private-sector participation while ensuring transparency, competitiveness and value for the people of Pakistan.
