ISLAMABAD – Pakistan entered new chapter in aviation as Islamabad Airport outsourcing goes to Turkish Consortium TERG.
Airport Authority approved major move to outsource management of Islamabad International Airport to Turkish consortium, TERG, for 15 years. This decision was finalized in a board meeting chaired by Secretary of Aviation Ahsan Mangi, marks a significant step in Pakistan’s efforts to modernize its aviation sector.
Turkish consortium’s bid, which offers to cover 47.25pc of project’s cost, was approved by board. According to sources in the aviation ministry, the next phase will involve seeking approval from the federal cabinet to formalize the agreement.
The outsourcing initiative is part of broader strategy by government to enhance operational efficiency of the country’s airports. After approval for Islamabad Airport, the government is also considering outsourcing the management of Karachi and Lahore airports in near future.
In addition to airport privatization efforts, Pakistan is looking to sell a 60pc stake in its financially troubled national airline, PIA, as part of a broader reform plan in collaboration with the International Monetary Fund. This follows an unsuccessful attempt in October to privatize the airline, which received only a single bid well below the required price.
In a similar development, National Assembly’s Standing Committee on Privatisation was briefed on resumption of privatisation of Pakistan International Airlines (PIA) and sale of Roosevelt Hotel in New York.
PIA’s first flight to Paris PK 749 landed safely at CDG airport Paris
