ISLAMABAD: Pakistan is in need of substantial private sector investment requiring approximately $110 billion over next five years to cater to the infrastructure necessities for growing population, y Ghulam Murtaza Satti, adviser on Public-Private Partnership (PPP) said during an investors forum arranged by Infrastructure Project Development Facility (IPDF).
The investors observed that there should be consistency and continuity in the policies and stressed the need for legislation to cover loopholes in PPP. They quoted examples of Lahore Faisalabad road on BoT of Punjab Government and Lakpass tunnel project on BoT of NHA. The investors also quoted the statement of Minister of Ports and Shipping regarding cancellation of concession agreement signed between Government and Singapore Port Authorities, which can affect business environment in the country.
Talking to a group of investors, Satti said that elected government is fully cognizant of the importance of PPP and is laying emphasis for which IPDF is a focal entity. He highlighted the key issues like employment generation, economic empowerment and additional use of existing infrastructure associated with the economic development of the country. He further said that the PPP has also got support of the International Institutions like, World Bank and Asian Development Bank to carry out its policy.
Ghulam Murtaza Satti added that IPDF takes special care of the appropriateness of the transaction structure, sizing of the project to the right demand transaction suitability by taking into consideration the concerns of the investors and the lenders. Urging the investors, he assured them that their concerns will be taken care off while drafting concession agreements for the infrastructure projects in order to make them air tight so that these concessions should be workable and should not be affected by change of government.
Giving presentation to participants, IPDF team informed about 11 projects of IPDF worth of Rs 200 billion which are at various stages of the development. Representatives of Board of Investment, Daewoo, Fauji Foundation, FWO, Inter Construct Pvt. Ltd., Lakson Group, PTCL, Sachal Engineering, SCG, Development Infrastructure, Infrastructure development Company, Habib Rafiq Pvt., MCB Bank, Emaar Pakistan, TGS, SCG and IDC attended the investor forum.
