The Comptroller and Auditor General (CAG) has asked the government to
review GVK-led Mumbai International Airport (MIAL) performance and
continuously monitor its financing pattern, saying the project cost had
doubled and the funding gap was being filled up by passengers through
development fee.
CAG pilloried the public-private partnership (PPP) model for the airport, saying risks had not been properly transferred to the private party and castigated Civil Aviation Ministry for granting extensions to the project, delayed by four years, and not penalising the Mumbai airport operator for it.
In a report tabled in Parliament, CAG said: "There is a strong case for government to critically review the outcomes from the PPP arrangement in MIAL ... and protect the interests of government and passengers."
"It is essential that a regular and well documented review of performance of MIAL by Civil Aviation Ministry is in place to safeguard the interests of the government and to get MIAL to deliver the committed outputs," it said.
Read newas in full 18/07/14 PTI/Business Today
CAG pilloried the public-private partnership (PPP) model for the airport, saying risks had not been properly transferred to the private party and castigated Civil Aviation Ministry for granting extensions to the project, delayed by four years, and not penalising the Mumbai airport operator for it.
In a report tabled in Parliament, CAG said: "There is a strong case for government to critically review the outcomes from the PPP arrangement in MIAL ... and protect the interests of government and passengers."
"It is essential that a regular and well documented review of performance of MIAL by Civil Aviation Ministry is in place to safeguard the interests of the government and to get MIAL to deliver the committed outputs," it said.
Read newas in full 18/07/14 PTI/Business Today
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