ISLAMABAD: The Privatisation Commission (PC) Board on Friday approved a proposal to privatise the management of Islamabad, Lahore, and Karachi international airports, allowed the inclusion of AKD Group Holdings (Pvt) Ltd in the Arif Habib Corporation Limited AHCL)-led consortium for Pakistan International Airlines Corporation Limited (PIACL), and finalised the reference price for the sale of the House Building Finance Company Limited (HBFCL).
Chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation, the board recommended a reference price and Sale Purchase Agreement terms for HBFCL’s privatisation, which will now be submitted to the Cabinet Committee on Privatization (CCoP) for approval.
The state-owned housing finance company is being sold through a negotiated deal to the Pakistan Mortgage Refinance Company Limited (PMRCL), the sole pre-qualified bidder approved by the federal cabinet in July 2023. PMRCL’s bid will be opened once the CCoP and cabinet ratify the reference price. In another key decision, the board approved the inclusion of AKD Group Holdings (Pvt) Ltd in the Arif Habib Corporation Limited (AHCL)-led consortium, one of the four pre-qualified groups competing for the privatisation of PIA. The inclusion complies with the rules set out in the Statement of Qualifications, allowing the consortium to strengthen its position in the bidding process.
The board also proposed adding the management of Islamabad, Lahore, and Karachi international airports to the privatisation programme. The plan aims to offer airport operations under a long-term concession model, attracting private sector expertise to improve efficiency and service quality.
Reaffirming its commitment to transparency and efficiency, the board pledged to accelerate ongoing privatisation transactions in line with government reform goals. Members stressed the need to overcome past hurdles and ensure that all deals are completed on schedule to boost investor confidence and streamline public sector operations.
The latest decisions mark a significant push in the government’s broader strategy to reform state-owned enterprises, reduce fiscal burdens, and attract foreign investment.
