Asian – Dispatch

Saudi Asyad Group says it wants to join Pakistan’s airport privatisation bids, partnering with Saudi and international firms to outsource operations and land assets of three airports.

Saudi Arabia’s Asyad Group is looking to participate in Pakistan’s airport privatisation programme and is seeking to bring together Saudi and international partners with technical expertise for potential bids.

The group’s plans were discussed during a meeting between Finance Minister Muhammad Aurangzeb and Asyad Group Chief Executive Officer Ghassan Ahmed Amodi, according to a government statement issued on Thursday.

Amodi said Asyad was satisfied with its experience in Pakistan and remained committed to the country as a long-term investment destination. He described Pakistan as an important part of the group’s investment portfolio outside Saudi Arabia and said the group intended to expand its presence.

The CEO briefed Aurangzeb on Asyad’s interest in the upcoming airport privatisation process and its efforts to identify Saudi and international partners with relevant technical capabilities. He also updated the minister on the group’s airport operations and growing international experience in the sector.

The government is seeking to outsource the operations and land assets of three airports — Jinnah International Airport in Karachi, Islamabad International Airport and Allama Iqbal International Airport in Lahore.

The proposed outsourcing is aimed at improving passenger services, upgrading facilities, increasing revenue potential and attracting foreign investment through a public-private partnership model.

Aurangzeb welcomed continued interest from Saudi investors and said the government’s privatisation programme was creating opportunities for new investment.

He stressed the need to attract credible, long-term investors and said commercially viable projects could help strengthen private-sector participation, investment and trade between Pakistan and Saudi Arabia.

The meeting also reviewed Wafi Energy Pakistan Limited’s existing operations and expansion plans, including the development of its retail network, storage infrastructure and digitalisation initiatives.

Wafi Energy briefed the minister on its investments in Khyber Pakhtunkhwa and other parts of Pakistan, along with plans to expand its operations further.

Amodi also expressed interest in additional investment opportunities in Pakistan, including the financial sector, and in facilitating potential partnerships between Saudi and Pakistani investors.

The finance minister highlighted recent improvements in Pakistan’s macroeconomic indicators and sovereign credit profile, while pointing to the country’s strategic location and potential to serve as a gateway to regional markets.

He encouraged Asyad and other private-sector investors to identify commercially viable opportunities and assured them of continued government support.

Amodi appreciated the government’s engagement and reaffirmed Asyad Group’s commitment to further investment in Pakistan and to strengthening economic and commercial ties between the two countries.

Source: Pakistan Today