Senior Minister Marriyum Aurangzeb said while chairing the first investment conference for Punjab that Chief Minister Maryam Nawaz Sharif has re-implemented the public-private partnership model for holistic development.
In her keynote address, the senior minister said the conference aims to promote investment in the province.
She noted that the Lahore-Islamabad motorway was one of the successful PPP model initiative of former prime minister Nawaz Sharif.
She remarked that Punjab’s economy amounts to $2.25 billion and the GDP of 33 countries is less than the province.
The government is devising a practicable and successful public-private model for Punjab, which will be ahead of experiences and achievements of other countries. A road map has been devised containing necessary reforms for a future free from impediments, she said.
The CM would soon approve it and the proposal of experts and private sector have been included in this framework, she said.
The senior minister disclosed that special attention would be paid to road sector as connecting cities and ensuring best facilities for travelling and business was a vision of the PML-N-led government. The vision of Nawaz Sharif and PM Shehbaz Sharif regarding development will be moved forward and public-private partnership will be encouraged in different sectors, including energy, industries and the social sector.
She said the then CM Shehbaz Sharif had started the Gujranwala-Sheikhupura road project through public-private partnership and it was supposed to be completed in 2016. However, it was completed in 2019. In 2017-18, losses worth billions of rupees incurred due to hurdles created in development, she regretted and added that the public private partnership of Punjab will also benefit other provinces.
Reconstitution of the Public-Private Partnership Authority was in progress in the P&D Department, she said and reiterated that CM Maryam Nawaz Sharif had held a meeting regarding the PPP mode as soon as she assumed the office because it is a genuine model of development.
The CM had directed to improve the PPP model two months earlier and it will be designed in a way to genuinely benefit the province.
The impact assessment, comparison and amendments in framework have been completed and the CM is committed to start work on the road network under the vision of Nawaz Sharif and Shehbaz Sharif.
Investment in energy, urban development, social sector and industries will be made practicable and beneficial for the people while taking stakeholders into confidence within a constitutional framework.
The senior minister said the framework would be finalised in a meeting to be chaired by the CM.
The partnership model will be introduced in the federal government as well as in Punjab. She regretted that many projects were delayed and this resulted in losses to the people. The government was devising a framework which would strengthen public-private partnership and the feedback of investors and developers wouldl be included in the final draft.
Communications and Works Minister Malik Sohaib Ahmed Berth, secretary, investors, developers, representatives from the banking sector and LCCI attended the conference.
Published in The Express Tribune, May 15th, 2024.
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