• Islamabad, Lahore, Karachi facilities up for grabs; Privatisation Commission assures domestic, foreign firms of level-playing field; abandons G2G mode amid investors’ high interest
• Seeks proposals to appoint financial adviser for Roosevelt Hotel; plans joint venture for mixed-use development; aims to finalise transaction in a year

ISLAMABAD: The Privatisation Commission announced on Saturday that the outsourcing operation for the country’s three major airports — Islamabad, Lahore and Karachi — will move to an open bidding mode following a high level of interest from various investors.

The commission said the shift from a government-to-government (G2G) mode to open bidding aims to generate a competitive process wherein all domestic and foreign investors will have a level playing field to participate in the bidding process.

According to a commission statement, the envisaged competitive process priorities inclusivity by welcoming participation from all eligible entities, including those from partner nations, while affording equal opportunities to local and foreign investors.

This approach is designed to promote transparency and fair competition, deliver the most advantageous results for Pakistan’s economy and reinforce relationships with international partners, the commission said.

The government has been actively considering options for Islamabad International Airport, Karachi’s Jinnah International Airport and Lahore’s Allama Iqbal International Airport through appropriate modes, including management contracts and long-term commercial concessions.

As part of this strategy, the Islamabad airport has been included in the active privatisation program, consistent with the ongoing process for the airports at Karachi and Lahore.

This follows constructive dialogue with entities from partner nations, including the United Arab Emirates, Turkiye and Saudi Arabia, as well as other international stakeholders.

The commission noted that the primary objectives are to enhance efficiency, improve service delivery, maximise revenue generation, upgrade infrastructure and attract private sector investments. These efforts align with the nation’s economic vision to cultivate collaboration to modernise the aviation sector.

Roosevelt Hotel

Separately, the Privatisation Com­m­ission has invited technical and financial proposals for the appointment of a financial adviser for the Roosevelt Hotel in New York, aiming to secure a joint venture for mixed-use development of the elite Manhattan property owned by the Pakistan government.

According to the commission’s website, proposals can be submitted by Feb 16. The government intends for the transaction regarding the Roosevelt Hotel to be completed in one year.

The commission intends to offer the property for setting up a joint venture project through the “best suited transaction structure and mode of privatisation”.

The appointed financial adviser will be tasked with conducting market sounding to validate investor interest in the hotel.

The adviser must identify potentially interested parties and assess the level of interest in the transaction structure options covered in the transaction structure report and recommendations of the earlier financial adviser.

Additionally, the financial adviser will develop and implement an effective marketing strategy with the approval of the Privatisation Commission.

This includes developing and implementing a plan for introducing the Roosevelt’s site and projecting its image to bolster its value, “enabling expression of interest in the property from prospective investors”.

The adviser will also be required to arrange meetings with potential investors in order to develop a better understanding of investor profiles and the investment climate.

Located in midtown on Madison Avenue, the Roosevelt Hotel is the only real estate entity on the government’s privatisation program.

The 19-storey property is considered among the elite hotels in Manhattan, comprising 1,025 rooms with a covered area of over 600,000 square feet. It is wholly owned by PIA Investments Ltd (PIAIL), which is owned and managed by the Pakistan government.

Published in Dawn, January 25th, 2026