The much touted airport privatisation drive of the UPA 2 government that seeks to offload 100 percent stake held by Airports Authority of India across six airports to private developers could face minor delays. Sources told CNBC-TV18 that the model concession agreement (MCA) – that lays down the rules of engagement between the government (AAI) and private parties – is yet to be finalized. The delay is on account of the aviation ministry having to prepare the MCA from scratch after having rejected the draft MCA prepared by planning commission member Gajendra Haldea late last year.
Sources say that while the revenue share model in the MCA for the private developers have been finalised it is still awaiting legal vetting. “The MCA has not been finalized yet. We still need to get it legally vetted which would take around 15 days more,” a senior official in the aviation ministry told CNBC-TV18. The official added post the legal vetting the MCA would be sent to an inter-ministerial group followed by a final cabinet nod.
Read News In Full 03/01/14 Ronojoy Banerjee/CNBC-TV18/moneycontrol.com
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