Deadline extended for Islamabad airport outsourcing bids

ISLAMABAD: The deadline for submitting bids for the outsourcing of Islamabad Airport was extended to October 7, the government announced on Thursday.

The extension follows a recent Steering Committee on Airport Outsourcing meeting chaired by Ishaq Dar, where the International Finance Corporation provided an update on the progress of the project.

Read more: Privatisation Board approves financial advisors for PIA, Discos, and Roosevelt Hotel

During the meeting, committee members engaged in a detailed discussion regarding the roles and responsibilities involved in the bidding process. The extension aims to allow potential bidders more time to prepare and submit their proposals.

The privatisation of Islamabad Airport is part of a broader strategy by the government to improve operational efficiency and service quality at the country’s major airports. The government hopes that by outsourcing, it can leverage private sector expertise and investment to modernise airport facilities and improve overall performance.

The move is expected to attract international interest and investment, contributing to the airport’s development and management.

Meanwhile, the Privatisation Commission Board recently recommended a joint venture as the optimal transaction structure for the Roosevelt Hotel in New York, owned by Pakistan International Airlines (PIA).

The recommendation aligns with a Transaction Structure Report submitted by Jones Lang LaSalle Americas, Inc (JLL), the Financial Advisory Consortium appointed for the transaction.

The board’s recommendation follows an analysis by JLL, which considered various options such as outright sale, joint venture, and long-term lease.

A joint venture was deemed the most suitable structure to maximise proceeds and value for the government.

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Minister for Privatisation Abdul Aleem Khan commended JLL for its thorough report and expressed hope for a successful outcome in the Roosevelt Hotel transaction. The board also approved the appointment of financial advisers for various privatisation efforts, including those for PIA and electricity distribution companies (Discos).