Islamabad: The outsourcing process for Allama Iqbal International Airport, Lahore, and Jinnah International Airport, Karachi, has moved forward with the Privatisation Commission Board approving an EY-Parthenon-led consortium as the top-ranked party for appointment as financial adviser.
The decision was taken at the commission’s board meeting on Tuesday following a competitive selection process. The board also constituted a negotiation committee to finalise the Financial Advisory Services Agreement (FASA) with the consortium.
The financial adviser will assist the government in taking forward the proposed outsourcing of operations at the two airports. The Privatisation Commission’s request for proposals had sought a single financial adviser or consortium for both transactions under one FASA.
The development follows the government’s broader plan to bring private-sector participation into the operations of major airports. Islamabad International Airport is also being processed separately for outsourcing under a long-term concession model, with the Asian Development Bank appointed as its financial adviser.
Separately, the Privatisation Commission Board declared the privatisation of Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO) as major transactions. The commission will now initiate the process of appointing financial advisers for the two power distribution companies.
LESCO and MEPCO are part of the fourth batch of distribution companies identified for privatisation, while transactions involving earlier batches are at different stages.
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