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ISLAMABAD, August 11, 2026: The Privatisation Commission (PC) Board has approved key steps to outsource Allama Iqbal International Airport Lahore (AIIAP) and Jinnah International Airport Karachi (JIAP). It also moved forward with the privatisation of Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO).
The decisions came during the 257th meeting of the PC Board, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.
The Board approved the EY-Parthenon-led consortium as the top-ranked party to serve as Financial Adviser for the outsourcing of Lahore and Karachi airports. The selection followed a competitive process.
The Board also formed a Negotiation Committee to finalise the Financial Advisory Services Agreement with the successful consortium.
Meanwhile, the Board classified the proposed privatisation of LESCO and MEPCO as major transactions. As a result, the Privatisation Commission will now begin the process of appointing Financial Advisers for both power distribution companies.
LESCO and MEPCO are part of the fourth batch of distribution companies (DISCOs) selected for privatisation. The government has already started the privatisation process for three earlier batches.
The Privatisation Commission said it remains focused on advancing the government’s privatisation programme. It also stressed that transactions will follow transparent and competitive procedures.
According to the commission, the programme aims to strengthen accountability, improve transaction management and maximise value for the government and the people of Pakistan.
