ISLAMABAD: The Public-Private Partnership Authority (P3A) board has approved the appointment of the International Finance Corporation (IFC), the commercial arm of the World Bank, as the transaction adviser for key infrastructure projects.
These include the development of Islamabad and the construction of two major motorways in Punjab.
Chaired by Planning Minister Ahsan Iqbal, the meeting endorsed several impactful initiatives under the public-private partnership framework. These initiatives aim to speed up national infrastructure development.
Sources familiar with the matter revealed that the IFC will assist the Capital Development Authority (CDA) as the transaction adviser for projects such as bulk water management, energy efficiency improvements, wastewater treatment, and sewage projects.
The P3A board also gave preliminary approval, pending approval from the Finance Division, for the revised commercial structure of the 69-kilometer Sialkot-Kharian Motorway project.
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The project, now upgraded to a six-lane facility as directed by the Special Investment Facilitation Council (SIFC), will connect Sialkot with central Punjab through the M-12 corridor. It is expected to significantly enhance industrial connectivity and regional mobility.
The Sialkot-Kharian Motorway project is expected to cost Rs79 billion. Since the traffic on this route may be limited, the government will give Rs21 billion to help make the project financially attractive for private companies.
Additionally, the board approved the proposal for the Kharian-Rawalpindi Motorway project, spanning 117.6 kilometers. This greenfield motorway will also be developed as a six-lane corridor under a build-operate-transfer model.
With an estimated cost of Rs202.61 billion, the project will undergo international competitive bidding. The proposed viability gap funding stands at Rs40 billion.
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Minister Ahsan Iqbal said that involving the private sector is important because it brings in money, new ideas, and better management. This will help the government finish projects faster and provide services more efficiently, especially since the public sector has limited funds.
“Public-private partnerships are pivotal to our infrastructure strategy. By harnessing private capital and expertise, we aim not only to accelerate critical national projects but also to ensure long-term sustainability, transparency, and value for public funds,” stated Mr. Iqbal during the meeting.
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