Imran Ghaznavi
ISLAMABAD, AUG 10 /DNA/ – The 44th meeting of the Board of the Public Private Partnership Authority (P3A) was held under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairperson, P3A Board. The meeting was attended by members of the P3A Board, the senior P3A team and senior representatives from the Special Technology Zones Authority (STZA), Railway Estate Development and Marketing Company (REDAMCO) and the National Highway Authority (NHA).
The Board approved Project Development Facility (PDF) support for STZA’s Islamabad Technopolis Project to develop it in PPP mode through hiring a quality Transaction Advisor. The project aims to develop a world-class, purpose-built integrated technology park in the heart of Islamabad to promote technology exports, innovation, skilled employment and technology transfer, while attracting private sector investment. The PDF support will facilitate the necessary project preparation and transaction advisory work to develop a robust and bankable PPP structure, with P3A providing continued support in taking the project forward.
The Board also discussed putting Pakistan Railways’ prime properties into active commercial use through REDAMCO, with the objective of unlocking their true potential through private sector participation and generating sustainable, long-term revenue streams. The proposal envisages a pilot Karachi cluster, with subsequent properties to be taken forward in phases based on the experience of the pilot.
For the M-10 Karachi-Hyderabad Motorway and the Guru Nanak Expressway, the Board approved NHA’s request for direct contracting of International Financial Institutions (IFIs) as Transaction Advisors under the P3A (Direct Contracting of IFIs as Transaction Advisers) Regulations, 2023. The IFIs will review the project studies already completed, optimise the design, devise bankable commercial structures and provide NHA with the necessary support to solicit qualified investors for implementing the projects in PPP mode.
The M-10 is expected to improve Karachi-Hyderabad connectivity and facilitate port-bound freight, while the Guru Nanak Expressway will strengthen connectivity to Kartarpur and support opportunities for religious tourism, hospitality and related commercial development.
The Board also held a strategic consultation session to set the future direction of P3A, with discussions focused on stronger government ownership and commitment to PPP projects, strengthening P3A’s institutional role, prioritizing sectors and projects based on national needs, market appetite and readiness.
Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairperson, P3A Board, emphasized the importance of P3A’s role in converting opportunities into bankable PPP projects pipeline development, with P3A playing a stronger role in facilitating implementing agencies in taking priority projects forward towards commercial and financial close.
