Government includes three major airports in privatisation programme

ISLAMABAD: The government has initiated the process of privatising the State Life Insurance Corporation of Pakistan by beginning the appointment of a financial adviser, while reaffirming that the country’s three largest airports remain part of its wider privatisation programme.

Financial adviser sought for State Life privatisation

According to Privatisation Commission spokesperson Imran Ghaznavi, the commission has begun the process of appointing a financial adviser for the privatisation of the State Life Insurance Corporation of Pakistan, marking the latest step in the government’s ongoing divestment programme.

The appointment of a financial adviser is a key stage in the privatisation process, as the adviser will assist with valuation, transaction structuring and preparations for potential investment.

Islamabad, Lahore and Karachi airports remain in programme

Ghaznavi also said that Islamabad, Lahore and Karachi airports have been included in the government’s privatisation programme.

He said the Asian Development Bank is likely to be appointed as the financial adviser for the privatisation of Lahore and Karachi airports, while a consulting consortium for the privatisation of Islamabad International Airport is expected to be finalised soon.

The government has been pursuing a broader privatisation agenda aimed at attracting private investment, improving the performance of state-owned enterprises and reducing the financial burden on the national exchequer.