Islamabad, 13 July, 2023 (GNP): The Federal Minister for Finance and Revenue Ishaq Dar on Wednesday looked for a comprehensive roadmap, executed with timelines, to well assist the outsourcing of the first airport in Pakistan. The objective is to upgrade service delivery and align with global aviation standards and practices.
According to the official statement issued by the Ministry of Finance, Dar held a meeting of the Steering Committee to monitor the outsourcing of airports’ operations.
Federal Minister for Aviation and Railways Khawaja Saad Rafique, Special Assistant to Prime Minister (SAPM) on Finance Tariq Bajwa, SAPM on Government Effectiveness Dr. Jehanzeb Khan, Aviation authorities, the IFC team and senior officers from Finance Division attended the meeting apart from the members of the committee.
However, the government of Pakistan had approved an advisory service agreement with a wing of the World Bank Group in March to hand over operations of three of Pakistan’s international airports to a foreign country, making use of its political backing to culminate the deal at the earliest.
Moreover, as per the report from the finance ministry, the Economic Coordination Committee (ECC) of the Cabinet approved the draft Transaction Advisory Agreement (TASA) reached with the International Finance Corporation (IFC) by Pakistan Civil Aviation Authority (PCAA) to outsource three airports.
Furthermore, the draft agreement seems favorable for the IFC due to security provided in the form of penalties, if Pakistan decides to terminate the contract.