The Chairman of the Board of Investment (BOI), Saleem H Mandviwala, has said that the government is planning to reduce mark-up rates in March 2009. Speaking at a seminar on 'Public-Private Partnership' (PPP), organised jointly by Karachi Chamber of Commerce and Industry (KCCI) and the government of Pakistan, he said that the future interest rates were likely to be reduced by 12 percent by June 2009.
He said that the government has awarded a contract of garbage and solid waste management to a Chinese company. He said that on success of the waste management project, similar projects would be initiated in other cities of the country. The BOI chairman said that the government has also planned for technology transfer for development in agriculture sector from China, especially the seed development technology.
Referring to public-private partnership (PPP), he said that it was focussing more on infrastructure development due to scarcity of funds. Advisor to Chief Minister for provincial investment, Zubair Motiwala said that the government welcomed private sector to participate with pubic sector in different projects.
He said window of opportunities was available and only hurdle is negative attitude of bureaucrats. Member (Implementation and Monitoring) executive director, IMU, Planning Commission, Muhammad Zubair said that poverty challenges can only be met through sustainable partnerships between the public and private sectors. This would create a win-win situation for all, he added. He said that the government was encouraging PPP in major social sectors as well as on infrastructure.