KARACHI: The head of the bid evaluation committee announced on Thursday that a Turkish consortium, the only bidder to assume control of Pakistan’s Islamabad airport, had made a concession fee offer that was less than the required minimum.
The financially constrained South Asian nation wants to increase its revenue by accelerating its privatization drive, which includes outsourcing the management of three significant airports.
According to the aviation and airports authority, the consortium, which included Terminal Yapi, ERG Insaat, and ERG UK, offered to pay the government a concession fee of 47% of its operating revenue, falling short of the government-mandated requirement of 56%.
The International Finance Corporation (IFC), a World Bank Group member that is assisting Islamabad, will now be tasked with handling the case.
