Islamabad International Airport outsourced the operation to the Pakistan Airports Authority (PAA) which resulted in the opening of the financial bids at the authority’s headquarters.
The event today ceremoniously unsealed the financial proposal presented by the Turkish consortium. The Turkish consortium, which dated its offer for a concession of 47.25% of the project scope for the PAA on October 7, fell short of the minimum reference set at 56%.
Also Read: Punjab Launches E Taxi Scheme to Support Unemployment
The bid will now be assessed in detail by the International Finance Corporation(IFC), which is acting as transaction advisor for this project. IFC may submit its evaluation report to PAA by January 9, 2025.
The final decision regarding awarding the concession will be based on a thorough review by the PAA Board, followed by Federal Cabinet approval.
Last year, after much noise, the government failed to privatize Pakistan International Airlines (PIA) as the final bidding process attracted only one bid of Rupees 10 billion against the national flag carrier and was way below the minimum price set by the government at Rupees 85 billion.
For outsourcing in Pakistan, the national government is also seeking to outsource Lahore and Karachi airports.