Modernisation via P3 stressed

Islamabad:Chairman Capital Development Authority (CDA) Muhammad Ali Randhawa said that adopting the practices of the Public Private Partnership Authority (P3A) would transform the Authority into a dynamic institution.

While chairing a meeting here Wednesday, he said that P3A would provide technical support to the CDA for investment in the real estate sector. "We aim to utilise the assistance and expertise of the P3A to initiate major projects for the promotion of tourism in Islamabad," he added. The P3A and international consultants attended the meeting.

The chairman CDA said that instead of auctioning assets, a policy to create permanent sources of income would be implemented. "Through the platform of the Public Private Partnership Authority, the CDA is keen to work on projects that generate permanent income," he added.

Muhammad Ali said the CDA is considering to initiate the projects for permanent sources of income through a professionally strong platform. He said that the authority is planning to start short-term and long-term projects with the assistance of the Public Private Partnership Authority. It was decided in the meeting that the teams from both institutions would work together and consider the projects to be initiated. The experiences and expertise of other government institutions will be utilised in this regard, the meeting decided.