Federal Minister for Finance Syed Naveed Qamar has said that Public Private Partnership (PPP) is an essential option for infrastructure development to augment government's efforts and resources for the development of the country. Pakistan's structured programme and framework in this regard will help private sector participation in development of infrastructure projects in the country.
Syed Naveed Qamar made these remarks while chairing a meeting of the Board of Directors of the Infrastructure Project Development Facility (IPDF) in Islamabad on Wednesday.
The meeting was attended, in addition to Finance Minister Syed Naveed Qamar, by the Advisor on PPPs Ghulam Murtaza Satti, Board Members Dr Sania Nishtar, Salim Raza, Suhail Safdar, Secretary Planning Commission, Farrukh Qayyum, Secretary Finance, Aamir Qawi Acting CEO of IPDF. Additional Finance Secretary PMSP, and Joint Secretary PMSP also attended the meeting on special invitation.
The finance minister stated that co-ordinated efforts being taken by the Planning Commission under the leadership of Salman Farooqi, Deputy Chairman, Planning Commission, Ministry of Finance and IPDF would result in the promotion and development of infrastructure in the country. "Planning Commission and the Ministry of Finance are facilitating the enabling framework for the identification, evaluation and development of the infrastructure projects under the PPP modality," he said.
Naveed Qamar further stated that regional and global experience demonstrates that Public Private Partnership programme is imperative to revitalise and restructure Pakistan's economy. "We are committed to the principles of value for money and affordability for delivery of more, better, affordable and faster services to the people of Pakistan.
Ghulam Murtaza Satti said that a number of initiatives are already under way, including Environment Friendly Public Transport (CNG Buses) Service, Islamabad IT Park, Multipurpose Water Reservoirs, FBR Automation Project etc. As a result of combined efforts of IPDF, Planning Commission and Ministry of Finance, more foreign investment is expected in the infrastructure projects under public private partnership modality, he added.
The government recognises the Public Private Partnership as an essential option for infrastructure development in the country, there is a need to identify projects which can be launched under the Public Private Partnership modality to relieve the burden on the public sector in the immediate term. Public Private Partnership cannot be accomplished in a vacuum without the support of all the stakeholders including various government agencies, departments, private sector and most importantly the people of Pakistan without whose continued support and understanding, this process cannot be undertaken successfully.-PR