Cash-strapped Pakistan has started the process to outsource three airports in a bid to generate foreign exchange reserves, The News said in a report.
The decision has been taken by the country’s Economic Coordination Committee.
The airports that will be outsourced are the Jinnah International Airport in Karachi, Allama Iqbal International Airport in Lahore, and the Islamabad International Airport, the report added.
The committee under finance minister Ishaq Dar kick-started the outsourcing process of three airports within the scope of the Public-Private Partnership Act-2017 to engage private investors/airport operators through a competitive and transparent process to run the airports, develop appertaining land assets and enhance avenues for commercial activities and to garner full revenue potential, the report added.
The report also added that Pakistan’s aviation sector is struggling with the national carrier accumulating losses of nearly 400 billion Pakistani rupees.
With inputs from The News
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