ISLAMABAD: The federal cabinet has rejected the offer of a consortium bidding for the outsourcing of Islamabad International Airport mainly because the consortium could not comply with the reserve price.
The consortium consisting of Terminal YPV Tektrit Anonim Surketi, Erg Anisurm Tektrit Sunay Anonim Surketi and Erg International UK Limited was the bidder and offered 46% shares in the gross revenue for the airport authority.
However, the Pakistan Airports Authority had given a reserve price of 56 per cent of the total revenue share for the airport authority. The bidding consortium did not match its offer by 56%.
The government has started the process to outsource main airports in the country but is yet to complete the handing over. On the other hand, employees have been resisting the move demanding its rollback
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