Pakistan begins to outsource its three major airports

Pakistan has begun outsourcing operations and land assets at three major airports to generate foreign exchange reserves for its struggling economy.

The move is part of a public-private partnership, with the World Bank's International Finance Corporation acting as an adviser. The country has been negotiating with Qatar to jointly run terminals at Islamabad, Karachi, and Lahore airports as it seeks foreign investment to bolster its balance of payments.

Pakistan's aviation sector is facing difficulties, with the national flag carrier carrying accumulated losses of almost $1.41 billion, and the central bank's reserves hardly covering four weeks of imports.