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Punjab, IFC sign MoU on advisory services for PPP projects.

Government of Punjab and International Finance Corporation (IFC), a member of the World Bank Group signed a 'Framework Agreement on Advisory Services for PPP transactions' recently at Planning and Development Department, Lahore. Government of Punjab and IFC has partnered to promote sustainable private sector investment and participation in the infrastructure and social sectors. IFC will assist Punjab's PPP program by providing advisory services for identification of potential PPP projects, feasibility studies, project preparation and implementation. The IFC has offered consulting and advisory services for project development and implementation. With IFC's extensive global experience in provision of advisory services, the Punjab PPP initiative will attract more foreign investors to extent the Government's ambitious development agenda.

Secretary PandD Iftikhar Ali Sahoo in his remarks stated that Public Private Partnerships will play a pivotal role in achieving the ambitious growth agenda of Punjab as Annual Development Program alone is not sufficient to meet all the development needs of the province. Agha Waqar Javed Member (PPP/PandD Board) stated that Framework Agreement between Government of Punjab and International Finance Corporation (IFC) is yet another step towards achieving private sector led growth through Public Private Partnerships. Nadeem Siddiqui (Country Manager IFC, Pakistan) said that IFC has advised various Governments on over 200 PPP projects which are now generating $11billion revenue for these governments. Senior officials of Government Departments, Members of PandD Board, Mirza Khurram Baig (Investment Officer, PPP) and representatives of media attended the signing ceremony.

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Publication:Flare
Geographic Code:9PAKI
Date:Jan 31, 2018
Words:277
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