Public-private partnership to strengthen investment in Punjab
LAHORE: The government of the Punjab has always been mindful of the importance of enhancing infrastructure services for sustaining economic and social development in the province. Better service coverage and quality in power and water supply, solid waste management, sewerage treatment, transport and logistics, health and education are vital for Punjab's economy and the livelihood of its people.
Public-private partnership (PPP) has been recognized worldwide as an essential mode of public service delivery. These attract private capital investments reduce fiscal pressure on government, increase efficiency through private sector participation, and help reform sectors through the reallocation of roles and risks. It has been realized that all infrastructure investment requirements cannot be met from public funds, therefore the government of Punjab through public-private partnership law, intends to fill this gap through public-private partnerships.
The government of the Punjab under Punjab Resource Management Programme (PRMP) has developed publicprivate partnership for infrastructure Act 2010 and PPP Policy to provide the regulatory framework to undertake projects under the PPP mode. Risk Management Unit is also being established in Finance Department to oversee and assess the risks involved in PPP transactions.