Pub­lic-pri­vate part­ner­ship to strengthen in­vest­ment in Pun­jab

The Pak Banker - - Front Page - Mum­taz Ali

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.

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