Islamabad: The Privatisation Commission Board has approved the outsourcing of operations for Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi, alongside the privatisation of Lahore Electric Supply Company and Multan Electric Power Company. These decisions were finalized in the board’s 257th meeting chaired by Mr. Muhammad Ali, the Prime Minister’s Adviser on Privatisation.

According to Privatisation Commission, a consortium led by EY-Parthenon has been selected as the top candidate for appointment as Financial Adviser for the outsourcing of the specified airports, following a competitive selection process. A Negotiation Committee has been established to finalize the Financial Advisory Services Agreement with the consortium.

The board also classified the privatisation of LESCO and MEPCO as significant transactions, requiring the appointment of a Financial Adviser per the commission’s regulations. This step will initiate the process for selecting a Financial Adviser for these transactions.

LESCO and MEPCO are part of the fourth batch of power distribution companies slated for privatisation by the government. The privatisation process for the earlier batches is already in progress.

The board emphasized its dedication to furthering the government’s privatisation agenda, ensuring transparency, competition, and professional management in these transactions to maximize value for the government and the citizens of Pakistan.