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August 13, 2026The Privatisation Commission Board has approved an EY-Parthenon-led consortium as the top-ranked bidder for financial advisory services for outsourcing Lahore and Karachi airports, while declaring LESCO and MEPCO major privatisation transactions.
The Privatisation Commission Board has taken major steps to advance the government’s privatisation programme, approving an EY-Parthenon-led consortium for financial advisory services for Lahore and Karachi airports and declaring LESCO and MEPCO major privatisation transactions.
According to Profit Pakistan Today and Dawn, the decisions were taken during the 257th meeting of the Privatisation Commission 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 interested party” for appointment as Financial Adviser for Allama Iqbal International Airport, Lahore, and Jinnah International Airport, Karachi, following a competitive selection process.
The appointment is expected to help move the outsourcing process for the two major international airports forward, with the board also constituting a Negotiation Committee to finalise the Financial Advisory Services Agreement with the successful consortium.
The decision comes as the government continues to pursue its broader privatisation agenda, with airport outsourcing forming an important part of efforts to improve the management and operational performance of major public-sector assets.
Separately, the board approved the declaration of the privatisation of Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO) as “major transactions.”
The classification means that the appointment of Financial Advisers for the two power distribution companies will now proceed under the applicable Privatisation Commission regulations.
Following the decision, the Privatisation Commission will initiate the process for appointing Financial Advisers for LESCO and MEPCO, setting the stage for the next phase of their proposed privatisation.
LESCO and MEPCO are part of the fourth batch of distribution companies identified by the government for privatisation. The privatisation process involving three earlier batches of DISCOs is already underway.
The Privatisation Commission has said the programme will be pursued through transparent and competitive processes, with the latest decisions adding momentum to the government’s efforts to restructure and privatise public-sector entities.
The board also reaffirmed its commitment to ensuring that transactions are handled professionally, with accountability and value maximisation remaining key priorities.
It stressed that the process should focus on “transparent and competitive processes,” while ensuring that “accountability and value maximisation for the government and the people of Pakistan” remain central objectives.
The latest move places both airport outsourcing and power-sector restructuring among the government’s active privatisation priorities. For LESCO and MEPCO, the appointment of financial advisers will be an important next step in determining the structure and direction of the proposed transactions.
The developments also come as Pakistan seeks to improve the efficiency of state-owned and publicly controlled enterprises while attracting greater private-sector participation. The outcome of the advisory and transaction processes will determine how the proposed airport and DISCO reforms progress in the coming months.
