LAHORE MIRROR — Following Shehbaz Sharif’s tenure as the prime minister (PM), a significant development has taken place with regards to the Islamabad International Airport.
The government has made the decision to hand over the management of the airport to a different company for a span of 15 years. In exchange for this arrangement, the chosen company will provide the government with an upfront payment of $100 million.
However, this arrangement comes with a condition – if the company fails to adhere to the stipulated regulations, they will forfeit the upfront payment and the agreement will be terminated.
The Ministry of Finance gave its approval to this strategy during the interim leadership of Anwarul Haq Kakar as the temporary Prime Minister of Pakistan.
While the finer points of this arrangement are yet to be fully disclosed, preliminary information suggests that the selected company will assume responsibility for various aspects of the airport’s operations. This includes both the financial management and the aesthetic aspects of the airport.
The selected company will determine factors such as pricing in the airport’s shops, currency exchange rates, and the rental fees charged to stores within the airport premises.
It is important to note that crucial functions such as airport safety, customs, and immigration will continue to be under the jurisdiction of the Civil Aviation Authority (CAA).
Additionally, indications are that the chosen company might also have the opportunity to develop malls and host renowned brand outlets within the airport premises. This move is expected to enhance the overall experience for travelers and visitors alike.
