Government Decides to Privatize New Islamabad International Airport, HESCO and SEPCO
Islamabad: The government has decided to privatize New Islamabad International Airport along with Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The decision was taken during a meeting of the Privatization Commission Board chaired by the Prime Minister’s Adviser on Privatization, Muhammad Ali. The board approved the formation of a transaction committee to oversee the privatization process of HESCO and SEPCO.
The board also recommended terminating the ongoing privatization process of the House Building Finance Company (HBFC) and decided to restart the auction for its 51 percent shares.
Meanwhile, a bid of Rs 4.2 billion for the Pakistan Mortgage Refinance Company was rejected, as the reference price of the company was set at Rs 13.55 billion.
The Privatization Commission Board further recommended including Islamabad International Airport in the privatization program. It was decided that the New Islamabad Airport would be privatized under a concession model. The board rejected the government-to-government (G2G) model for airport privatization and opted for an open bidding process instead.
