ISLAMABAD: Saudi Arabia’s Asyad Group has set its sights on Pakistan’s airport operations as the investment company considers a broader expansion beyond its existing energy business in the country.
Asyad Group CEO Ghassan Ahmed Amodi outlined the plan during talks with Finance Minister Muhammad Aurangzeb on Thursday. He told the minister that the group wants to participate in Pakistan’s upcoming airport privatisation programme and plans to assemble Saudi and international partners with the necessary technical expertise.
That interest could carry weight. But no investment figure, formal bid or project timetable accompanied the announcement.
Pakistan plans to outsource operations at Islamabad, Karachi and Lahore international airports through management contracts or long-term commercial concessions. The government has already appointed the Asian Development Bank as financial adviser for Islamabad airport, while the Privatisation Commission continues preparations for Karachi and Lahore. The process involves competitive concessions rather than an outright sale of airport assets.
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Why does Asyad want in? Amodi pointed to the group’s developing international airport experience, although the official statement offered few details about its operating record or the partners it may bring into a Pakistani consortium.
The airport proposal forms part of a wider Asyad Group Pakistan investment strategy. Amodi described Pakistan as an important market in the group’s portfolio outside Saudi Arabia and said its experience in the country had encouraged it to explore further opportunities, including projects in the financial sector.
Energy provides the existing foothold
Asyad executives hold senior positions at Wafi Energy Pakistan, the former Shell Pakistan. UAE-based Wafi Energy Holding acquired an 87.78% controlling stake in the Pakistani fuel retailer in November 2024, and the company adopted the Wafi Energy Pakistan name in January 2025.
Wafi now plans to enlarge its retail network, strengthen storage infrastructure and accelerate digitalisation. Executives also briefed Aurangzeb on investments in Khyber Pakhtunkhwa and other regions, though they disclosed neither spending targets nor the number of planned new outlets.
The delegation included Asyad Group CFO and Wafi board member Javaid Akhtar, Wafi Energy Pakistan CEO Zubair Shaikh, and Corporate and Government Relations Director Imran Hussain Qureshi.
Aurangzeb pitched Pakistan’s improving macroeconomic position, sovereign credit profile and strategic location as reasons for long-term investors to enter now. He also promised government support for commercially viable projects and urged the group to convert discussions into tangible investment.
Here’s the real test: execution
Pakistan has attracted repeated expressions of interest from Gulf investors, but negotiations do not automatically produce capital, jobs or completed infrastructure. Airport concessions demand regulatory clarity, credible traffic forecasts and commercially workable terms. Investors will also scrutinise political risk and the government’s ability to honour long-duration contracts.
Asyad’s existing exposure through Wafi gives the latest talks more substance than a routine investment pitch. Its proposed move into airports could deepen Saudi participation in Pakistan’s infrastructure economy. For now, though, it remains an ambition—not a deal.