A tripartite Turkish consortium, the sole bidder to take over the Islamabad airport, has offered the lowest fee, the chairperson of the bid evaluation committee said on Thursday, adding that the decision on the potential contract would be in the hands of an international consultant. I have been left out. on the matter.
The cash-strapped South Asian country is trying to raise revenue by speeding up privatizations, including the operation of three major airports.
Terminal Yapi, a consortium comprising ERG Insaat and ERG UK, bid to pay the government 47 percent of the revenue from operations in the form of a concession fee, below the government-mandated minimum of 56 percent. Aviation and Airports Authority said. .
The matter will now be referred to the International Finance Corporation (IFC) – a member of the World Bank Group, which is advising Islamabad on outsourcing – before Pakistan decides whether A bid may or may not be made.
Bid Evaluation Committee Chairman and Pakistan Airports Authority Deputy Director General Sadiqur Rehman said, “The details of the financial proposal… will be submitted and forwarded to IFC for further evaluation and submission of final reports.”
Pakistan is also looking to offload a 60 percent stake in debt-ridden airline Pakistan International Airlines (PIA), opening a new tab for raising funds and reforming state institutions as the $7 billion Ben is envisaged under the International Monetary Fund programme.
A failed attempt to privatize the national flagship in October also received a single offer, which was even lower than the price.