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PPPA approves NUST project

Business

May 25, 2019

ISLAMABAD: The Public Private Partnership Authority’s (PPPA) board on Friday approved an infrastructure project ‘National Science and Technology Park Project’ to initiate the procurement process.

The decision was taken at the first board of directors meeting of the PPPA, presided over by the authority’s chairman Minister for Planning Development and Reforms Khusro Bakhtyar. Secretaries finance and planning, members infrastructure and private sector development were also present at the meeting.

The board directed the officials to initiate the process of appointing two members from private sector at the PPPA as well as to fast-track the process of appointment of chief executive officer of the authority. Bakhtyar directed the officials to constitute a sub-committee for detailed review of the matters of the authority.

“Private sector has a critical role to play in the development of a country,” he said in an official statement. “Public-private partnership, BOT (build-operate-transfer) and other modes would be utilised to finance infrastructure projects to enhance the role of the private sector.” The meeting was told that the Infrastructure Project Development Facility was transformed into the PPPA in June 2018 under section 3 of the PPPA Act.

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