Pakistan approves outsourcing of three major airports
Pakistani government has approved a draft to outsource
three major airports of the country.
The Economic Coordination Committee of the cabinet approved
the draft Transaction Advisory Agreement reached with the International Finance
Corporation for outsourcing of three airports.
In December last year, the coalition government had
decided to engage international operators to help run three major airports of
Islamabad, Lahore, and Karachi with a view to attracting direct foreign
investment and providing world-class facilities to passengers.
The airports that will be outsourced include Jinnah
International Airport Karachi, Allama Iqbal International Airport Lahore and
Islamabad International Airport.
The committee under the chair of Finance Minister Ishaq Dar kick-started the outsourcing process of three airports within the scope of the Public-Private Partnership Act-2017 to engage private investors/airport operators through a competitive and transparent process to run the airports, develop appertaining land assets and enhance avenues for commercial activities.