The federal government has decided to speed up the privatisation and outsourcing of major public assets during the current year, including Islamabad International Airport, five electricity distribution companies (DISCOs) and two power generation companies (GENCOs). This was shared with the Senate Standing Committee on Privatisation on Friday.
Officials told the committee that after the privatisation of PIA, Islamabad International Airport has been set as the next priority.
Unlike earlier discussions, the airport will be outsourced through an open and competitive bidding process rather than government-to-government deals.
Privatisation Commission Secretary Usman Akhtar Bajwa said a summary for outsourcing the airport and appointing a financial adviser will soon be sent to the Cabinet Committee on Privatisation and the federal cabinet.
He explained that informal talks were previously held with Türkiye, Saudi Arabia, and the UAE, but no final agreement was reached.
As a result, the government decided to move ahead with open bidding. Karachi and Lahore airports are also planned for outsourcing after Islamabad. Existing airport staff will be transferred to smaller airports once the process is completed.
The Asian Development Bank has shown interest in acting as financial adviser for airport outsourcing due to its experience in similar projects.
The committee was also informed that 24 state-owned entities are included in this year’s privatisation plan. The privatisation of five DISCOs and two GENCOs has already started.
The meeting also discussed delays in PIA’s privatisation. Officials said all bidders were properly reviewed and met legal requirements. The committee noted that discussions will continue as these plans move closer to cabinet approval.