Following Shehbaz Sharif’s tenure as Prime Minister, the government has resolved to entrust a different corporation with the operation of the Islamabad International Airport. This arrangement is slated for a duration of 15 years, during which the selected company will provide an initial payment of $100 million to the government. It is stipulated that this sum will be forfeited, and the agreement terminated, should the company deviate from the established regulations.
The Ministry of Finance endorsed this strategy during Anwarul Haq Kakar’s interim premiership in Pakistan.
While comprehensive specifics are not yet available, preliminary information suggests that the designated company will oversee aspects including airport administration, financial management, and aesthetic considerations. Responsibilities such as setting retail pricing, managing currency exchange rates, and determining rental fees for airport retail spaces will also fall under their purview.
However, it is important to note that airport security, customs, and immigration protocols will continue to be under the jurisdiction of the Civil Aviation Authority (CAA).
In addition, it appears that the chosen company may also possess the opportunity to develop malls and establish renowned brand outlets within the airport premises.