News, Travel

Government extends deadline for outsourcing three major airports

The federal government has extended the bidding deadline for outsourcing three major airports by 60 days, signalling a shift in the timeline for the strategic move. Foreign Minister Ishaq Dar led a pivotal meeting to discuss the outsourcing of Karachi, Lahore, and Islamabad airports, attended by Ministers for Planning, Law, Justice, and Human Rights, alongside other officials concerned.

The meeting saw positive outcomes from investor talks, with the International Finance Corporation’s Country Director reporting encouraging developments. Investors are set to receive facilitation following the formation of the newly elected government. The deadline extension, requested by international bidders, was granted based on recommendations from the IFC.

Ishaq Dar reiterated the government’s commitment to providing full cooperation to investors for the flagship project, underscoring the significance of the initiative. Meanwhile, Finance Minister Muhammad Aurangzeb expressed optimism regarding the progress of Pakistan International Airlines (PIA) privatization, emphasizing the need for continuous efforts to revitalize the country’s economy.

Amidst projections of Pakistan’s IT exports reaching $3.5 billion, highlighting its economic potential, Aurangzeb stressed the importance of addressing energy sector issues for industrial growth. He emphasized that reducing government expenditure is essential for economic stability and reiterated the necessity for consistent and concerted efforts to maintain macro-economic stability.

Also, see:

Floods in Pakistan: History, Present, and Impact on Pakistan

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