In a significant move to enhance the competitive landscape for the outsourcing of Islamabad Airport, the Steering Committee on Outsourcing Airports has granted a two-month extension for bid submissions. This decision aims to attract a broader range of bidders and ensure thorough due diligence by potential participants. The 11th meeting of the Steering Committee, held on Friday, was chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar and included key officials from various ministries and organizations.
The meeting saw the presence of notable figures such as Finance Minister Muhammad Aurangzeb, Special Invitee Tariq Bajwa, Secretary Aviation, Secretary Law, Secretary Board of Investment (BOI), and the Country Director of the International Finance Corporation (IFC). The discussions focused on the current progress and future steps for the Islamabad Airport outsourcing project.
During the meeting, the Secretary Aviation provided an update on the interest shown by various international airport operators, particularly from Europe. These operators have formed consortiums with local investors, indicating a strong collaborative interest in the project. Several teams have visited Islamabad Airport to conduct legal and financial due diligence, underscoring the complexity and potential of the project.
Four potential bidders requested an extension of the bid submission date, originally set for July 15, to allow for comprehensive due diligence. This request was supported by the IFC, the project’s Transaction Advisor, which emphasized that an extension would foster greater competition and thereby enhance the project’s value. The Steering Committee, recognizing the benefits of increased competition, approved a two-month extension for bid submissions.
The Steering Committee directed the Ministry of Aviation and the IFC to actively engage with potential bidders and provide full support to facilitate the completion of due diligence. This approach aims to ensure maximum participation in the bidding process, with the Committee closely supervising the process to prevent any further delays.
Deputy Prime Minister Ishaq Dar highlighted the strategic importance of the Islamabad Airport outsourcing project. He stressed that the initiative is crucial for maximizing the revenue potential of the airport and significantly improving the passenger experience. Dar assured that all necessary measures would be taken to complete the outsourcing project in the shortest possible time, ensuring transparency and efficiency throughout the process.
With the extension granted, the focus now shifts to supporting potential bidders in their due diligence efforts. The Ministry of Aviation and the IFC will play pivotal roles in providing the necessary information and resources to facilitate a smooth and thorough evaluation by the bidders. The aim is to attract high-quality bids that can leverage the full potential of Islamabad Airport.
