AIIAP, JIAP outsourcing, sell-off of two Discos approved

Business Recorder reported that the Privatisation Commission Board has approved steps for outsourcing Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi, along with the privatisation of Lahore Electric Supply Company and Multan Electric Power Company. The board met on Tuesday under Muhammad Ali, the Adviser to the Prime Minister on Privatisation, who chairs the commission.

The board endorsed a consortium led by EY-Parthenon as the highest-ranked party for the Financial Adviser role on the airport outsourcing, following a competitive selection. It also formed a Negotiation Committee to finalise the Financial Advisory Services Agreement with the winning group.

The board also classed the planned LESCO and MEPCO sales as major transactions, which means a Financial Adviser must be appointed under commission regulations. The commission will now begin the process of picking that adviser for both deals. These two companies form the fourth group of power distribution companies, known as DISCOs, marked for privatisation, while the earlier three groups are already in progress.