The financial bid opening ceremony for the outsourcing of Islamabad International Airport was held at the Headquarters of the Pakistan Airports Authority (PAA).
According to the spokesperson of PAA, the only Turk Consortium, TERG submitted a financial proposal on October 7 which offered a 47.25% of its revenue from operations in the form of a concession fee, short of the 56% minimum set by the government.
“The proposal will now be sent to International Finance Corporation (IFC), the transaction advisors, for detailed evaluation which will submit assessment report to the PAA by January 9, 2025,” PAA Spokesperson added.
He further stated that the final decision regarding the award of the concession will be made following the PAA Board’s review and subsequent approval by the Federal Cabinet.
According to the sources, the federal government also plans to outsource Karachi and Lahore airports.
In order to speed up the process of outsourcing, there is a possibility that the outsourcing of Karachi and Lahore airports will be done in a government-to-government manner.
