The Punjab government has decided in principle to set up Punjab Infrastructure Development Fund Company (PIDFC) for promoting economic activities and generating job opportunities in the province. The company will take measures for development of infrastructure and promotion of public-private partnership.
This was decided in a meeting presided over by Chief Minister Punjab Shahbaz Sharif here on Thursday, disclosed an official. CM Special Initiatives Entity Chairman Haroon Khawaja, Secretary Housing, Secretary Planning and Development, Member Colonies and developers from private sector were present.
The Chief Minister said infrastructure plays a key role in the development of a country, therefore, the Punjab government is paying special attention to the uplift of this sector. He said Lahore Ring Road and Lahore-Kasur Road are an example in this regard. "There are vast opportunities of development of resources in Punjab, which can be used for improving infrastructure for generating further resources," he added.
Granting approval in principle to the setting up of Punjab Infrastructure Development Fund Company(PIDFC), the Chief Minister directed to formulate recommendations in this regard. He said the model of the company will be on the pattern of Punjab Land Development Company.
Earlier, Aamir Saeed while giving a detailed briefing regarding PIDFC, said it will encourage private sector and work as master developer. The participants of the meeting while giving their proposals and suggestions described the establishment of the company as a commendable step, which will help promote infrastructure sector. They said the setting up of the company will result in promotion of economic activities and generation of additional resources for development projects.