Pakistan plans to hand over operation and management of the airport in the capital, Islamabad, to a firm from the United Arab Emirates under a government-to-government deal after rejecting an offer from a UK-Turkish consortium.
Negotiations with Abu Dhabi Investment are underway after the Gulf state offered Pakistan as much as 60% share in the total revenue of Islamabad International Airport, Wasim Tariq, joint secretary for aviation, at Pakistan’s defense ministry, said at a parliamentary briefing on Thursday. ERG UK and Terminal Yapi of Turkey had offered to give Pakistan 40% of total revenue in their bid, he added.
Pakistan is looking to outsource operations of its three major airports in Islamabad, Lahore and Karachi as a part of reforms sought by the International Monetary Fund. The government is in the process of appointing financial advisers to help hand over operations of the remaining two airports, the official said.
The Washington-based lender has asked the government to restructure its economy by plugging financial leakages and reduce its footprint in business. Pakistan is expected to get a $1.2 billion loan tranche by December after the IMF board’s approval.
Pakistan also aims to conclude the sale of Pakistan International Airlines by December, Usman Bajwa, secretary at the Privatisation Commission, told lawmakers Thursday.
{{/usCountry}}Pakistan also aims to conclude the sale of Pakistan International Airlines by December, Usman Bajwa, secretary at the Privatisation Commission, told lawmakers Thursday.
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