The government of Pakistan has sanctioned the management transfer of Islamabad International Airport to the United Arab Emirates.
Senator Muhammad Ishaq Dar, the Deputy Prime Minister and Foreign Minister of Pakistan, led a Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) meeting to discuss the handover of the airport’s operations to the UAE.
Attendees included Tariq Bajwa, the Minister of Petroleum and Advisor on Privatisation, the Prime Minister’s special assistant, along with federal secretaries and senior officials from pertinent ministries.
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The committee resolved to complete arrangements with the UAE through a G2G (government-to-government) model under a framework agreement for the airport’s operations transfer.
A negotiation team, led by the Prime Minister’s Advisor on Privatisation, will comprise representatives from the ministries of defence, finance, law and justice, and privatisation.
The Islamabad airport’s privatisation aims to draw foreign investments into the South Asian nation and boost its operational efficiency.
Inaugurated in 2018, the airport faced numerous operational and financial challenges. The UAE’s takeover, known for managing some of the world’s largest airports, is expected to improve Islamabad International Airport’s efficiency and operational performance.
