Pakistan is in need of substantial private sector investment requiring approximately $110 billion over next five years to cater the infrastructure needs of growing population. This was stated by Ghulam Murtaza Satti, advisor on Public Private Partnership (PPP) while addressing an investor forum arranged by infrastructure Project Development facility here on Friday.
He said that elected government is fully cognisant of the importance of Public Private Partnership (PPP) and laying emphasis on it for which IPDF is created as a focal entity.
He highlighted the key issues like employment generation, economic empowerment and additional use of existing infrastructure associated with the economic development of the country. He further said that the PPP has also got support of the International Institutions like World Bank and Asian Development Bank to carry out its policies.
Satti added that IPDF take special care of the appropriateness of the transaction structure, sizing of the project to the right demand, transaction suitability by taking into consideration the concerns of the investors and the lenders.
The investors appreciated the working of IPDF and observed that there should be consistency and continuity in the policy of the Government and also a legislation to cover loopholes. They quoted examples of Lahore-Faisalabad road on BOT of Punjab Government and Lakpass tunnel project on BOT of NHA. In both the projects Government backed out and reluctant to abide obligations of the Government/Public institutions stipulated in the concession agreements as the Government changed.
Giving presentation to participants, IPD team informed about 11 projects of IPDF worth of Rs 200 billion are at various stages of the development and in front of investors for feedback to market these projects. Representatives of Board of Investment, Daewoo, Fauji Foundation, FWO, Inter Construct Pvt Ltd, Lakson Group, PTCL Sachal Engineering, SCG, Development infrastructure, Infrastructure development Company, Habib Rafiq Pvt, MCB Bank, Emaar Pakistan, TGS, SCG and IDC attended the investors forum.-PR
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