ISLAMABAD: Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar on Friday chaired the 11th meeting of Steering Committee on outsourcing of airports here.
The meeting was attended by Minister for Finance Muhammad Aurangzeb, Tariq Bajwa (Special invitee), Secretary Aviation, Secretary Law, Secretary Board of Investment (BOI) and Country Director International Finance Cooperation (IFC).
The Secretary Aviation briefed the Committee that Islamabad airport outsourcing project has attracted interest from various airport operators including those from Europe.
Some of these operators have formed consortium with local investors and are undertaking legal and financial due diligence. Their teams have visited Islamabad airport recently.
However, in view of the complexity of the project, four potential bidders have requested for an extension in the bid submission date, fixed for 15th July, with a view to allowing them to complete their due diligence. Such an extension will allow more competition and thus better value for the project. IFC, the Transaction Advisor for the project, supported this proposal.
The Steering Committee allowed extension in the bid submission date for two months. The Steering Committee further directed that the potential bidders shall be engaged and fully supported by the Ministry of Aviation and IFC for early completion of the due diligence and ensuring maximum participation in the bidding process.
Steering Committee further decided to closely supervise this process to ensure that no further extension is required.
The Deputy PM highlighted the importance of the project for leveraging maximum revenue potential of Islamabad Airport as well as enhancing passenger experience.
He undertook to take all measures to ensure that the outsourcing project is completed in the shortest possible time in the most transparent manner.
