KARACHI: A Turkish consortium, the sole bidder to take over the operations of Pakistan’s Islamabad airport, has offered a concession fee below the minimum threshold, the chairman of the bid evaluation committee said on Thursday.
The cash-strapped South Asian country is looking to generate revenue by speeding up a privatization push, including outsourcing the running of three major airports.
The consortium, comprising Terminal Yapi, ERG Insaat and ERG UK, bid to pay the government 47% of its revenue from operations in the form of a concession fee, short of the 56% minimum set by the government, the aviation and airports authority said.
The matter will now be referred to the International Finance Corporation (IFC) — a member of the World Bank Group, which is advising Islamabad on the outsourcing — before Pakistan takes a decision on whether the bid can go through.
“The details of the financial proposal will ... be presented and forwarded to the IFC for further evaluation and submission of final reports,” said Sadiq ur Rehman, the chairman of the bid evaluation committee and deputy director general of Pakistan Airports Authority.
Pakistan is also looking to offload a 60% stake in debt-ridden airline PIA to raise funds and reform state-owned enterprises as envisaged under a $7 billion International Monetary Fund program.
A failed attempt to privatize the national flag carrier in October also received a single offer, well below the asking price.

ISLAMABAD: Pakistan’s foreign office spokesperson confirmed on Thursday that Islamabad has not established direct contact with the new Syrian leadership yet, reiterating that it supports a solution that upholds the unity and territorial integrity of the Middle Eastern state.
Opposition forces in Syria, after lightening military campaigns, seized the capital Damascus in December 2024 as then-President Bashar Assad fled to Russia. The Syrian leader was ousted after 13 years of civil war and more than 50 years of his family’s rule over the country. 
Days after Assad was ousted, Pakistan said it supported an “inclusive political process” in Syria and believed that the Middle Eastern nation’s future should be determined by its people without foreign interference. 
 “I would not like to comment on specific details, but at this stage we do not have direct contacts with the leadership of Syria,” Foreign Office Spokesperson Mumtaz Zahra Baloch said in response to a question. “But our embassy remains active in Syria.”
She said the Pakistani government has consistently supported efforts aimed at finding a “comprehensive solution” to the situation in Syria.
“The solution that upholds the unity, sovereignty and territorial integrity of Syria,” Baloch said, adding that Pakistan believes the future of Syria should correspond to the aspirations of the Syrian people for security, stability and development. 
“And Pakistan will continue to promote peace and stability in Syria,” she said. 
Following Assad family’s ouster after over five decades in power, opposition forces’ leader Ahmad Al-Sharaa’s Hayat Tahrir Al-Sham (HTS) stamped its authority on the Syrian state with the same lightning speed it seized the country. 
The HTS deployed police, installed an interim government and has been meeting foreign envoys, raising concerns over how inclusive Damascus’ new rulers intend to be. 
The appointment of Mohammed Al-Bashir, the head of the regional government in HTS’ enclave of Idlib, as Syria’s new interim prime minister last month underlined the group’s status as the most powerful of the armed groups that battled for more than 13 years to end Assad’s iron-fisted rule.