PM outsources 3 major airports
PM outsources 3 major airports. In an effort to draw in direct foreign investment and give travellers access to top-notch facilities, the government on Friday decided to enlist the services of international operators to manage Islamabad, Lahore, and Karachi’s three major airports.
According to a statement from the PM Office, the decision was made during a meeting that Prime Minister Shehbaz Sharif presided over to review issues related to the aviation sector.
Three significant airports—Jinnah International Airport, Islamabad International Airport, and Allama Iqbal International Airport—would be operated by operators of international standing in the first phase, it was agreed.
According to the plan, the foreign operators would assist in managing the aforementioned firms for a period of 20–25 years.
Additionally, it was determined at the meeting to hire the International Finance Corporation to offer consulting services.
The multinational operators would upgrade the aforementioned airports through foreign investment in addition to offering services of a high degree.
Participants in the meeting were the Special Assistant to Prime Minister Jahanzeb Khan, Finance Minister Ishaq Dar, Aviation Minister Khawaja Saad Rafique, Defense Minister Khawaja Muhammad Asif, Law Minister Azam Nazeer Tarar, and pertinent top government officials.
The Public-Private Partnership Authority received approval from the meeting to start the paperwork.
The prime minister gave the authority instructions to guarantee that the procedure was completed in a transparent manner and in compliance with the highest standards.
The public-private partnership model was being pursued by 44 countries, including the US, UK, India, Bahrain, and Brazil, where airports were operated using the PPP model.
The PIA generated Rs172 billion in income in 2022, the biggest amount in the history of the state airline, it was announced at the meeting.
Additionally, it was disclosed that the PIA now had four A-320 aircraft in its fleet, its network had been increased, and it was now running 330 flights each week.
The European Union Aviation Safety Agency’s ban was being evaded, it was revealed to the meeting, and a plan had been developed to make the PIA a profitable airline.
A plan to restore PIA’s reputation was also in the works, and wide-body aircraft were being added to the airline’s fleet.
