ISLAMABAD: The Privatisation Commission Board has approved key steps for the outsourcing of Lahore and Karachi airports. It also approved measures for the privatisation of Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO).
The decisions came during the Board’s 257th meeting. Muhammad Ali, Advisor to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, chaired the meeting.
The Board approved a consortium led by EY-Parthenon as the highest-ranked bidder. The consortium will serve as Financial Advisor for outsourcing Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi.
The Board also formed a Negotiation Committee. The committee will finalise the Financial Advisory Services Agreement (FASA) with the successful consortium.
The Board also classified LESCO and MEPCO as major privatisation transactions. Under Privatisation Commission regulations, both companies now require the appointment of Financial Advisors.
The Privatisation Commission will begin the process of appointing Financial Advisors for LESCO and MEPCO.
The two companies form part of the fourth batch of power distribution companies (DISCOs) selected for privatisation by the government. The government has already started the privatisation process for the first three batches.
The Board said it remains committed to advancing the government’s privatisation programme. It also stressed the need for transparent and competitive transactions.
The Privatisation Commission aims to secure the best value for the government and the people of Pakistan. It also said that accountability and professional management will remain key priorities throughout the process.
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