The government operates outsourced operations and assets at three airports
Pakistan on Thursday started outsourcing operations and ground assets at three major airports through public-private partnership, the Ministry of Finance said in a statement.
The ministry said in a statement that Islamabad has hired World Bank International Finance Company as a consultant in the outsourcing process.
“The outsourcing of three airports was initiated as a public-private partnership. The participation of private investors/airport operators through a competitive and transparent process to operate the airports and related land assets., strengthening the ways of commercial activity and earning profits. . . . full revenue potential,” the ministry said.
No details or agreement have been officially announced.
But officials say Pakistan is in talks with Qatar to jointly operate terminals at Islamabad, Karachi and Lahore airports.
Prime Minister Shabazz Sharif visited Doha late last year to secure investment in Qatar’s energy and aviation sectors. Following this, the Qatar Investment Authority pledged to invest $3 billion in Pakistan.
Islamabad has been in talks with Doha for months as part of an effort to attract foreign investment to the country of 220 million people.
Pakistan’s aviation sector is suffering from accumulated losses of nearly 400 billion Pakistani rupees ($1.41 billion) by the country’s flag carrier.
Pakistan is facing a severe balance of payments crisis as central bank reserves have dwindled and barely cover four weeks of imports.
Islamabad continues its unsuccessful negotiations with the International Monetary Fund to secure vital financial resources.
