Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has emphasized the need for revisiting public-private partnership Act to protect the rights of investors. In a statement, the PBIF chief opined that the existing policy framework is unable to protect rights of potential investors and most of the time investors are subject to litigations.
He said that the government under the current economic scenario where it was facing huge fiscal deficits should engage private sector in infrastructure projects. He said that although the previous PPP government has been able to attract investment in power generation, health, education and housing sectors, the other sectors such as transport, logistics, water supply, sanitation, solid waste management and real estate could not attract foreign investment.
He alleged that the previous government's poor governance and corruption in power projects have stigmatized the entire concept of public-private partnerships. However, the role of private sector in improving education and health standards as well as in providing low-cost housing facilities was outstanding, he added. The PBIF chief said that the trend of discontinuing projects with the change of government had caused huge losses to the national exchequer. He hoped that the government would promote and encourage public-private partnership projects.
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