The Privatisation Commission Board has approved the outsourcing of Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi.
The decision was taken at a meeting chaired by Muhammad Ali, adviser to the prime minister on privatisation and the Privatisation Commission Board chairman.
The board approved the consortium led by EY-Parthenon as the preferred bidder for the outsourcing of the Lahore and Karachi airports following a competitive process for the appointment of a financial adviser, according to a Privatisation Commission spokesperson.
The board also formed a negotiating committee to finalise the financial advisory services agreement with the successful consortium.
In another key decision, the board declared the privatisation of Lahore Electric Supply Company (Lesco) and Multan Electric Power Company (Mepco) as a major privatisation.
Under the applicable Privatisation Commission rules, the appointment of a financial adviser is now mandatory. Following the approval, the Privatisation Commission will begin the process of appointing financial advisers for the privatisation of both companies.
Lesco and Mepco are among the power distribution companies included in the fourth phase of the privatisation programme. The government has identified both companies for privatisation.
The privatisation process for the first three batches is already under way, the commission said.
