KARACHI: A Turkish consortium, the sole bidder to take over the operations of Pakistan’s Islamabad airport, has offered a concession fee below the minimum threshold, the chairman of the bid evaluation committee said on Thursday.
The cash-strapped South Asian country is looking to generate revenue by speeding up a privatization push, including outsourcing the running of three major airports.
The consortium, comprising Terminal Yapi, ERG Insaat and ERG UK, bid to pay the government 47% of its revenue from operations in the form of a concession fee, short of the 56% minimum set by the government, the aviation and airports authority said.
The matter will now be referred to the International Finance Corporation (IFC) — a member of the World Bank Group, which is advising Islamabad on the outsourcing — before Pakistan takes a decision on whether the bid can go through.
“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.
Pakistan is also looking to offload a 60% stake in debt-ridden airline PIA to raise funds and reform state-owned enterprises as envisaged under a $7 billion International Monetary Fund program.
A failed attempt to privatize the national flag carrier in October also received a single offer, well below the asking price.
Turkish group bids below minimum fee for Islamabad Airport operations
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Turkish group bids below minimum fee for Islamabad Airport operations
- Cash-strapped Pakistan wants to generate revenue to speed up privatization push
- Consortium bids to pay government 47% of revenue from operations as concession fee
Islamabad police review security, order heightened measures during Ramadan
- Inspector General Syed Ali Nasir Rizvi orders tighter security at mosques, markets and commercial centers
- The police chief calls for extra personnel at city entry points and patrols during Sahoor, Iftar and Taraweeh
ISLAMABAD: Pakistan’s capital police chief directed officials to tighten security measures to protect mosques, markets and commercial centers during the holy month of Ramadan, an official statement said, as the country has witnessed a surge in militant violence and protests in the wake of the killing of Iran’s supreme leader in airstrikes carried out by the United States and Israel.
The move comes days after protesters in Islamabad briefly breached the Red Zone, a high-security area with government and diplomatic facilities, on Sunday. Last month, at least 32 people were killed in a suicide bombing at a mosque and imambargah on the outskirts of the capital.
Inspector General Syed Ali Nasir Rizvi chaired an Operational Commanders Conference at the Safe City Islamabad Headquarters to review security arrangements for the second phase of Ramadan, according to the police spokesperson.
“Special security for places of worship must be ensured during the holy month of Ramadan,” he was quoted as saying in the statement circulated by the police. “Security of key installations, markets and commercial centers should be further strengthened.”
He directed officials to ensure strict checks at the city’s entry and exit points, with additional police personnel deployed during Sahoor, Iftar and Taraweeh timings.
Rizvi called for “effective monitoring” across the city through safe city cameras, urging police patrol units to remain vigilant and active.
The capital police chief said additional traffic policemen should also be deployed around major highways.
“Islamabad Police remain fully committed to protecting the lives and property of citizens,” the statement quoted him as saying.
