Rs30b approved for six uplift projects

All development schemes will be executed on public-private partnership basis

LAHORE:

Punjab Public-Private Partnership Authority has approved funding requests for six development projects worth Rs30 billion.

Executive Committee of the authority, on Thursday, allowed the Project Development Facility (PDF) these development projects under the public-private partnership (PPP) model. The approved projects include Multan Ring Road, rehabilitation of Kharian-Dinga Road, dualisation of Gujranwala-Pasrur Road, dualisation of Gujranwala-Hafizabad Road, Expo Centre at M-3 Industrial City Faisalabad and parking plaza at Jhika Gali Murree.

The project development facility funding was approved in the 7th meeting of the Executive Committee of the authority held under the chair of Adviser to Chief Minister on Economic Affairs and P&D Dr Salman Shah to hire transaction advisory services for the development of PPP project proposals.

“These projects will have connectivity for economic growth and proposed road sector projects will strengthen and widen existing structures, construct new pavements and bypasses, improve junctions and introduce road safety features,” Dr Shah said.

He emphasised that the construction of a multipurpose parking plaza near Murree GPO on Mall Road will cater to traffic congestion and the Punjab government has also planned to develop similar kind of projects all over Punjab to meet growing demands of parking needs.

Also, he said, considering the pivotal role of promoting exports and its location within the SEZ, Expo Centre will be established on 50 acres of land at M-3 Industrial City, Faisalabad.

The meeting also approved forecasted budget estimates of the Punjab PPP Authority for two outer financial years along with the approval of hiring against various positions for the newly established Punjab PPP Authority.

Published in The Express Tribune, March 5^th, 2021.