PDF funding requests for six projects worth Rs30b

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Staff Reporter
Lahore

The Executive Committee of Punjab Public Private Partnership Authority on Thursday approved Project Development Facility (PDF) funding requests for project development of six projects under PPP mode at estimated cost 30 billion rupees.

The approved projects included Multan Ring Road, Rehabilitation/Improvement of Kharian-Dinga Road, Dualization of Gujranwala- Pasrur Road, Dualization of Gujranwala-Hafizabad Road, Expo-Center 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 Executive Committee of Punjab PPP Authority, chaired by Dr. Salman Shah, Advisor to Chief Minister Punjab on Economic Affairs & P&D to hire Transaction Advisory Services for development of PPP project proposals.

Dr. Salman Shah said that the projects will have connectivity for economic growth and the proposed road sector projects will strengthen and widen existing structures; construct new pavements and bypasses; improve junctions; and introduce road safety features.

Advisor to Chief Minister Punjab on EA & P&D emphasized that construction of multipurpose parking plaza near Murree GPO/Mall road will cater the traffic congestion and Punjab government has also planned to develop similar kind of projects all over Punjab to meet growing demands of parking needs.

In addition, considering the pivotal role of promoting exports and its location within the SEZ, expo center will be established on 50 acres piece of land at M-3 Industrial City, Faisalabad.

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

Dr Salman Shah said that keeping in view the fiscal constraints/scarce public funding.