ISLAMABAD – The Privatisation Commission (PC) Board has recommended the inclusion of the Islamabad International Airport (IIAP) in the Privatisation Programme to the Cabinet Committee on Privatisation.
It recommended moving forward with a concession model under an open, competitive process after the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) had earlier ruled out G2G mode on 1st January, 2026.
The board took the decision in its 247th meeting chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission. The board took key decisions on privatisation of House Building Finance Company Limited, Roosevelt Hotel, New Islamabad International Airport and Power Distribution Companies (DISCOs) Batch II.
The PC Board recommended termination of the ongoing negotiated sale process for a 51% shareholding of House Building Finance Company Limited (HBFCL).
Pakistan Mortgage Refinance Company (PMRCL) was the sole bidder in the process and had submitted a bid of PKR 4.2 Billion as against the reference price of PKR 13.55 Billion approved by CCOP. The Board has recommended that the privatisation of HBFCL be started afresh with the appointment of a new Financial Adviser.
Furthermore, the PC Board annulled the process for hiring of Financial Advisor for privatisation of Roosevelt Hotel and directed that fresh Expressions of Interest (EOI) be invited for the appointment of Financial Adviser.
The decision was taken to ensure a more robust and competitive process, as the pool of interested parties narrowed from seven to two following legal and technical compliance screening under the prescribed criteria.
Furthermore, the Commission has been authorized by the Board to engage in direct negotiations with the Asian Development Bank (ADB) for its appointment as the Financial Adviser for this transaction.
The PC Board also approved the formation of a transaction committee for the privatisation of HESCO and SEPCO. The transaction committee will evaluate the deliverables submitted by Raiffeisen Investment, the Financial Advisor for the transaction.
The PC Board reiterated its resolve to conduct all transactions through structured, competitive, and transparent processes to achieve optimal outcomes for the national exchequer.
