No Outsourcing of Karachi, Lahore Airports

No Outsourcing of Karachi, Lahore Airports

The government decided to restrict the outsourcing of airports only to Islamabad International Airport for the time being and continued to extend about Rs 21.4 billion worth of 14 supplementary grants even a day after the passage of the federal budget.

A steering committee meeting on outsourcing of airports operations handled by Finance Minister Ishaq Dar, appeared to be as confused due to many reasons. The plan of outsourcing was unclear that’s why government decided to stop outsourcing of two airports.

Read more | Process of outsourcing Airports started

The participants were also uncertain about the financial matters pertaining to the IFC’s advisory services.

The outsourcing of three airports has been initiated within the scope of public-private partnership to engage private investors or airport operators through a competitive and transparent process to run the airports.

Transaction Service Agreement

The IFC and Pakistan Civil Aviation Authority had subsequently signed a transaction service agreement in the second week of April followed by visits of the technical teams of advisers to the three airports.

Some of the major supplementary grants pertained to the Ministry of Planning and Development on account of the national census.

The ECC approved Rs 1.304 bn grant to Ministry of National Health Services and Coordination to meet its liabilities. Other grants including Rs 12.30 million to National Security Division to meet its related expenses.

Read more | Police robots at Singapore Airports

Another major supplementary grant of Rs 4bn was granted to the Ministry of Aviation as markup payment support to Pakistan International Airlines Cooperation on account of five major international overdue payments.

Read Previous

Finance Bill 2023-24 Passed

Read Next

World Cup Trophy Tour from Space