Turkish consortium acquires Islamabad Airport management for 15
years
Pakistan has taken a significant step toward modernizing its aviation sector
by outsourcing the management of Islamabad International Airport to the Turkish
consortium, TERG, for a 15-year period. This decision was finalized in a recent
board meeting chaired by Secretary of Aviation Ahsan Mangi, marking a new
chapter in the country's efforts to improve airport operations.
The Turkish consortium’s bid, which covers 47.25% of the project’s total
cost, was approved by the board. Sources within the aviation ministry indicated
that the next phase will involve seeking approval from the federal cabinet to
formalize the agreement.
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consortium submits below-minimum bid for Islamabad Airport
This outsourcing initiative is part of a broader strategy by the Pakistani
government to enhance the operational efficiency of the nation’s airports.
Following the approval for Islamabad Airport, the government is also
considering outsourcing the management of Karachi and Lahore airports in the
near future.
In addition to the airport privatization efforts, Pakistan is working on
selling a 60% stake in its financially troubled national airline, PIA, as part
of a broader reform plan in collaboration with the International Monetary Fund
(IMF). This follows an unsuccessful attempt in October to privatize the
airline, which received only one bid that was well below the required price.
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with Turkish Airlines helps PIA earn over Rs. 2 Billion
In related developments, the National Assembly’s Standing Committee on
Privatization was recently briefed on the resumption of PIA’s privatization
process and the potential sale of the Roosevelt Hotel in New York.
Source: Pakistan Observer