Priya Aditi
Pakistan forex crises:In light of Pakistan’s diminishing forex reserves, the government has been pressing for airport operations to be outsourced. Dawn reports that the minister of finance has already convened multiple meetings of the committee created to engage foreign operators for outsourcing.
According to Dawn, citing sources, Finance Minister Ishaq Dar instructed stakeholders to finalise formalities to outsource the operations of Islamabad International Airport (IIA) by August 12, the last day of the current government’s tenure.
Dawn is a Pakistani national newspaper that covers Pakistani politics and current events.
On Saturday, the minister presided over a meeting of the steering committee to assess the progress of airport operations outsourcing.
Dawn reported that a source with knowledge of the meeting informed her that the committee had given explicit instructions to complete the essential procedures for IIA outsourcing as a top priority.
The World Bank’s International Finance Corporation (IFC), the transaction counsel for the outsourcing, updated the meeting on its progress, according to an official statement issued after the meeting.
Dar desires changes to aviation laws to be authorised by the end of the month. Dawn reported that the meeting agreed to expedite IIA’s outsourcing to enhance service delivery in accordance with best industry practises.
The IFC also presented to the committee, which also made decisions regarding the future outsourcing roadmap for IIA operations.
The Economic Coordination Committee decided on March 31 to initiate the 25-year outsourcing of airport operations and land assets in Islamabad, Lahore, and Karachi. To generate foreign exchange, their functions will be managed through a public-private partnership.
Dar also provided departments with a deadline for finalising amendments to civil aviation laws and a restructuring plan for Pakistan International Airlines (PIA), according to Dawn.
The amendments are being made to separate the roles of the Pakistan Civil Aviation Authority, the Pakistan International Airlines, and the Airports Security Force. By enacting ordinances, the goal is to eliminate overlapping responsibilities of these organisations.
The minister emphasised having amendments authorised by the legislature by July’s end. This timeline is essential because it would allow global aviation regulators to dispatch inspectors in August to conduct an on-the-ground assessment of operational systems and standards required to restore PIA’s flights to the United States, the United Kingdom, and Europe. Dawn reported that failure to achieve this deadline would result in a one-year delay before the inspections occur.
Due to a controversy surrounding pilots’ professional degrees and other aircraft safety standards, PIA has suspended flights to these destinations beginning in 2020.
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Federal Minister for Aviation and Railways Saad Rafique, Special Assistant to the Prime Minister on Finance Tariq Bajwa, Aviation Division secretary, Public Private Partnership Authority CEO, PCAA director general, IFC representatives, and other government officials attended the meeting presided over by the finance minister.
