Business Desk 
Jan 03, 2025
With Pakistan aiming to outsource the operations of the Islamabad International Airport, a Turkish bidder on Thursday offered a concession fee below the bare minimum specified by the country's government.
Citing chairman of the bid evaluation committee, Reuters reported that the bid comes as the sole offer since the South Asian nation began making efforts to outsource the operations of three of its major airports.
The government of Pakistan opted for outsourcing various services, including the privatisation of national flag carrier, as part of its efforts to generate revenue in the wake of financial constraints.
The Turkish consortium, consisting of Terminal Yapi, ERG Insaat and ERG UK, offered to pay 47% of its revenue made from operations in the form of a concession fee, falling 9% short of the 56% mark specified by the government, as noted by the aviation and airports authority.
Ahead of deciding to accept or reject the bid, the matter will now reportedly be referred to the International Finance Corporation (IFC), a World Bank Group member advising Islamabad on the airport's outsourcing.
"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.
The cash-strapped nation is also eyeing to sell over a 60% stake in its profitless national airline to raise capital and introduce reforms in state-owned enterprises as suggested under a $7 billion International Monetary Fund programme.
