US
Turkish consortium offers below minimum fee for Islamabad Airport operations
字号+ Author:Smart News Source:US 2025-01-10 01:10:37 I want to comment(0)
A three-party Turkish consortium, the only bidder to take over the operations of Islamabad airport, has offered a below minimum fee, the chairperson of the bid evaluation committee said on Thursday, leaving the decision on a potential deal in the hands of international advisor on the matter. The cash-strapped South Asian country is looking to generate revenue by speeding up a privatisation push, including outsourcing the running of three major airports. The consortium, comprising Terminal Yapi, ERG Insaat and ERG UK, bid to pay the government 47% of its revenue from operations in the form of a concession fee, short of the 56% minimum set by the government, the 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 the outsourcing — before Pakistan takes a decision on whether the bid can go through. "The details of the financial proposal will...be presented and forwarded to the IFC for further evaluation and submission of final reports," said Sadiq ur Rehman, the chairman of the bid evaluation committee and deputy director general of Pakistan Airports Authority. Pakistan is also looking to offload a 60% stake in debt-ridden airline Pakistan International Airlines (PIA), opens new tab to raise funds and reform state-owned enterprises as envisaged under a $7 billion International Monetary Fund programme. A failed attempt to privatise the national flag carrier in October also received a single offer, well below the asking price.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
Fingerprint, photo made mandatory for B-Form of children aged 10 and above
2025-01-10 01:07
-
Princess Charlene and her kids serve up fashion royalty
2025-01-10 00:14
-
Bruce Springsteen approves of Jeremy Allen White's singing in biopic
2025-01-09 22:30
-
James Gunn addresses 'future' of his 'favourite' DC hero
2025-01-09 22:24
User Reviews
Recommended Reads
Hot Information
- Man accused in Rs3bn tax fraud case granted bail against Rs100 surety bond
- King Charles receives surprising news about health amid predictions
- Prince Harry turns deaf ear to demands as lucrative role comes under fire
- 'Gladiator II' star Paul Mescal lies to bag role in 'Normal People'
- Aerial firing during New Year injures 29 in Karachi
- Life of Princess Diana’s niece : Model, philanthropist, and Royal connection
- Heidi Klum comes full circle, returns to 'Project Runway'
- Ariana Grande reveals Adam Sandler movie that always makes her cry
- PTI says military pardoning 19 May 9 convicts 'not a major development'
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content