Due to bad economic conditions, Pakistan began the process of outsourcing three main airports of Pakistan including Jinnah International Airport Karachi, Allama Iqbal International Airport Lahore and Islamabad International Airport.
The Economic Coordination Committee (ECC) decided to kick-off the process of outsourcing to generate more foreign exchange reserves. According to the statement released by Finance Ministry, foreign investment and world class facilities are main aim of outsourcing.
The Committee held a meeting under Finance Minister Ishaq dar, considering a summary of Aviation Ministry for engagement of International Finance Cooperation (IFC). The government decided to outsource airports in last Decemelber.
Public-Private Partnership Act 2017
The committee decided to outsource the airports under Public-Private Partnership Act 2017. The outsourcing aim to get more competitive and transparent process for airport management.
The outsourcing will also generate more foreign revenues and provide the customers with World-class services. Pakistan is currently in talks with Qatar to join the outsourcing of three main airports.
Last year Prime Minister Shahbaz Shareef visited Doha to garner Qatari Investment in energy and aviation sector of Pakistan. Qatar Investment authority announced to invest $3 billion in Pakistan.
Pakistan is currently facing serious crises in payment to central bank as four weeks of imports are still in delaying process. In result the Aviation sector of Pakistan is also struggling with general losses of 400 billion Pakistani Rupees.
Deal with Doha for several months is finally getting to its ends as outsourcing process has begun. The details about the partnership and other official matters are not revealed yet.