ISLAMABAD – The Ministry of Finance has given approval to outsource the Islamabad International Airport for a period of 15 years.
The development comes a day after Anwaarul Haq assumed charge as caretaker prime minister of Pakistan following the dissolution of the National Assembly.
Under the outsourcing plan, the third-party will pay $100 million in advance, whereas in case of default, the advance payment will be seized, and the contract will be canceled.
Reports said that administrative and financial affairs, design, and construction of Islamabad International Airport will be the responsibility of the third party.
The matters related to service charges, exchange rates, and rent out of shops will also be handled by the third party.
However, matters related to security, and immigration services at the airport will remain under the authority of the Civil Aviation Authority (CAA).
Reports also said that the third party will also be permitted establish shopping malls and brand shops at the airport.
