In other Pakistan news…. Pakistan’s federal government has greenlit a decision to transfer operations of Islamabad International Airport to the UAE under a government-to-government model, state news agency Associated Press of Pakistan (APP) reports. The move to shake up management comes in a bid to foster foreign investment and enhance infrastructure, Pakistani media outlet Dunya News reports. The investment ticket and timeline for the transfer were not disclosed.

The rationale: The agreement comes as part of Pakistan’s plans to privatize or outsource management for a variety of state-run projects — a condition of the International Monetary Fund’s (IMF) USD 7 bn bailout reform agenda that was agreed to last September. The country has also been looking to sell a 51% to 100% stake in its flagship carrier Pakistan International Airlines (PIA), Reuters reported earlier.

What’s next? A negotiations committee has been formed to iron out the details of the transfer agreement — set to be headed by Pakistan’s adviser on privatization to the Prime Minister Muhammad Ali.

About Islamabad International Airport: The airport — launched in 2018 at a cost of USD 1 bn — has an annual passenger handling capacity of 15 mn and is designed for future expansion to 25 mn.

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