Turkish group bids below minimum fee for Islamabad Airport operations
Business
The matter will now be referred to the International Finance Corporation
KARACHI (Web Desk) - A Turkish consortium, the sole bidder to take over the operations of Islamabad airport, has offered a concession fee below the minimum threshold, the chairman of the bid evaluation committee said on Thursday.
The consortium, comprising Terminal Yapi, ERG Insaat and ERG UK, bid to pay the government 47pc of its revenue from operations in the form of a concession fee, short of the 56pc 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.
