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Tender for outsourcing Islamabad International Airport issued: Details inside

08:38 PM | 8 Aug, 2023
Tender for outsourcing Islamabad International Airport issued: Details inside

ISLAMABAD - In its efforts to outsource the operations at Islamabad International Airport, the government has finally sought applications from bidders. 

The Civil Aviation Authority (CAA) has issued an international tender directing interested parties to submit the applications by November 8 after which the operations of the airport would be outsourced to the most feasible bidder.

The development comes days after Aviation Minister Khawaja Saad Rafique announced that the airport would be outsourced for 15 years but added that the navigational services and runway operations will not be outsourced and Civil Aviation Authority will continue to do it.

Rafique explained that International Finance Corporation (IFC), a World Bank offshoot, is the government’s consultant on outsourcing and around a dozen companies have shown interest.

The lawmaker, while speaking in the National Assembly, assured that there will be competitive bidding and that public procurement rules are being completely followed; he also confirmed that no one will be rendered jobless.

The minister told the legislators that Islamabad airport will be Pakistan’s first airport that will be outsourced and best international practices will be implemented.

The lawmaker opined that the world’s best airport operating practices are through private operators. Citing the example of India, Rafique said there are around eight airports whose operations have been outsourced.

'Likewise, Istanbul’s airport is outsourced, and the same is true for Madinah’s airport. There are countless examples,” he said.

The minister also clarified that outsourcing does not mean that the airport is being sold or mortgaged.

Earlier, it was decided that the Islamabad International Airport will be outsourced by August 12 and formalities in this regard would be completed soon. 

The government has been advocating the outsourcing of three major airports across the country at a time when a severe economic crisis is being faced by the nation.

The finance minister has already convened multiple meetings of the committee formed to engage foreign operators for outsourcing and soon Karachi and Lahore international airports would also be outsourced if the plans are executed.  

The outsourcing of three airports has been kicked off within the scope of a public-private partnership to engage private investors/airport operators through a competitive and transparent process. 

The investors and airport operators would be required to "run the airports, develop appertaining land assets and enhance avenues for commercial activities and to garner full revenue potential," an official statement added. 

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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