Minister for Planning, Development and Special Initiatives Asad Umar has suggested the utilisation of P3A (Public Private Partnership Authority) for the financing of development projects in the country.
This suggestion was given at a meeting of Federal Cabinet, presided over by Prime Minister Imran Khan.
While describing the history of P3A he said that since regular full-time CEO was appointed in March 2020 through an open and competitive process and business-friendly amendments were introduced in the law in 2021-22,Rs 618 billion worth of high impact projects are under active development under the P3A model.
The P3A projects are as follows: (i) Sialkot-Kharian Motorway of Rs27 billion has been approved by the P3A Board; (ii) Sukkur -Hyderabad Motorway (previously floated in 2018 and 2020) of Rs200 billion (transaction structure approved by P3A Board, P3A is conducting final analysis of bidding documents). Tender will be floated in November 2021; (iii) Kharian Rawalpindi Motorwsay, cost Rs80 billion (P3A analysis of transaction structure in final stage). Its tender will be floated in October 2021(next month); (iv) Karachi Circular Railway- cost Rs240 billion (P3A analysis of the draft transaction structure is under way, final documents awaited. The project’s tenders will be floated in December 2021; and (v) Karachi Pipri (Freight Corridor) – cost Rs 71 billion (P3A has completed analysis of the revised transaction structure and will share comments with the IA). The scheme’s tender will be floated in December 2021.
