Financial bid opening for Islamabad International Airport set for today

KARACHI: The financial bid opening for the outsourcing of Islamabad International Airport is set to take place on Thursday.

The financial bid for the Islamabad airport will take place at 2 pm at the headquarters of the Pakistan Airports Authority in Karachi, according to a spokesperson.

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The outsourcing of Pakistan’s national carrier and airports was planned after years of financial losses amounting to billions of rupees. Outsourcing usually entails contracting out certain business functions or services to third-party businesses or companies.

In context of the national airports, this can involve the management of airport operations, maintenance and customers services.

The move will allow the cash-strapped government to focus solely on regulatory oversight while private entities would handle the day-to-day operations.

In December last year, Deputy Prime Minister and Foreign Minister, Ishaq Dar, chaired a meeting of the Steering Committee. The meeting was centred on the outsourcing of the Islamabad airport.

The meeting discussed ensuring that the steering committee oversee the privatisation process, and ensure it aligned with ‘national interests’ and regulatory requirements.

During the meeting, the committee instructed the Aviation Ministry to quicken the completion of the outsourcing process.

The committee also approved the recommendation from the Pakistan Airports Authority that the selected bidder meet technical qualifications necessary for the outscoring of the Islamabad airport.

Technical qualifications typically include criteria such as experience in airport management, financial stability and the ability to meet safety and operational standards.

Despite plans for the privatisation of the Pakistan International Airlines (PIA) failing, the government seems determined to carry out outsourcing bids for the airports.

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Last year, Finance Minister, Muhammad Aurangzeb, announced the government’s intentions to privatise both, Lahore International Airport and the Islamabad one.