The first meeting of PPP Policy and Monitoring Board was held under the Chairmanship of Chief Minister Punjab attended by its Board Members comprising of Dr. Salman Shah Advisor to CM, Minister for Finance Hashim Jawan Bakth, MPAs, Chief Secretary Punjab Yousaf Naseem Khokhar, Chairman P&D Board Habib-ur-Rehman Gilani, Senior Member Board of Revenue Shaukat Ali, Secretaries, private sector representatives and members (PPP P&D Board).
The board approved three PPP projects amounting PKR 10.6 Billion to be undertaken in PPP mode includes “Establishment of Weaving City at M-3 Industrial city, Faisalabad” with an objective to shift power looms from residential area to planned setup, “Combined Effluent Treatment Plant at Sundar Industrial Estate and Quaid –e-Azam Industrial Estate” to Improve environment and ecosystem through treatment of industrial waste water and Installment of treatment plants to treat waste water.
The consideration of the bid of Lahore Ring Road SL-III (8 km) was also placed and the board gave principal approval of the project with a cost of PKR 10.4 Billion.
In addition to this, PDF funding request of PKR 88.38 Million has also been approved to hire transaction advisory services to develop PPP project proposals for dualization of Sheikhupura-Hafizabad and Chiniot Pindi Bhattian Road along with Lai Expressway Rawalpindi.
The members of the board were also apprised about new PPP Ordinance under which Punjab PPP Authority has been established which will facilitate in achieving Punjab Growth Strategy target of 7% growth rate, sustainable economic development through PPPs, fostering private investment and enhance capacity of financial, capital and engineering markets/industries. Policy decisions regarding matters related to functioning of the Punjab PPP Authority were also seeked from the board.
In concluding remarks, Chief Minister Punjab acknowledged the efforts of Minister Finance, Advisor to Chief Minister Punjab, Chief Secretary, Chairman P&D Board, Secretary Finance and Secretary Law & Parliamentary Affairs for their untiring efforts for the promulgation of PPP Ordinance 2019 in a short span of three months after addressing major institutional/regulatory and legal impediments.
He said that projects executed under PPP mode will reduce financial burden on the Government and PPP Ordinance, 2019 provides ease of doing business and one window solution for PPPs. Facilitating the private sector is our top most priority for generating economic growth and job creation, added the Chief Minister.