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.
18/07/14 PTI/Business Today
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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.
18/07/14 PTI/Business Today
