murad decides transform
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CM Murad decides to transform Sindh PPP Unit into private limited company

ByJustpaste.in

KARACHI : Sindh Chief Minister Syed Murad Ali Shah has decided to restructure the Public-Private Partnership (PPP) Unit into a private limited company to build a more autonomous, commercially agile and investment-oriented PPP ecosystem for the next phase of development in the province.

The decision was taken at a meeting chaired by the chief minister at the CM House on Wednesday. The meeting was attended by Special Assistant to the CM on Investment Syed Qasim Naveed, Chief Secretary Asif Hyder Shah, Principal Secretary to CM Agha Wasif, Planning and Development Board Chairman Najam Shah, Finance Secretary Fayaz Jatoi, Transport Secretary Asad Zamin and other senior officials.
The chief minister was informed that Sindh’s PPP programme has emerged as Pakistan’s leading sub-national PPP initiative, with a growing portfolio of projects in roads and bridges, transport, economic zones, information technology, energy, water, livestock, education, health and environmental sectors.
The programme has received international recognition at platforms including the UNECE PPP Forum and The Asset Infrastructure Awards. Sindh’s PPP programme was also ranked sixth in Asia by The Economist in 2018. The PPP Unit has additionally provided technical and legal support to other provinces for strengthening their PPP frameworks and project structuring.
The meeting noted that the Unit’s transition into a private limited company would enable it to promote and facilitate PPP projects more effectively, assist procuring agencies, strengthen departmental PPP nodes, formulate and implement policies and guidelines, build capacity and monitor portfolio performance.
The chief minister directed that the proposed institutional transformation be pursued to remove operational bottlenecks, retain specialised professionals and ensure continuity in PPP project development and implementation. He emphasised the need for a strong institutional structure capable of providing timely technical, financial and legal support to departments and implementing agencies.
Mr Shah was informed that the existing PPP Unit faced challenges in retaining skilled staff because of limited competitive compensation and incentives. The absence of dedicated project implementation units and project directors in certain departments was also affecting the pace and quality of project delivery.
The proposed PPP Private Limited Company will have greater commercial flexibility to undertake strategic activities, make equity investments where required, mobilise capital through financial instruments and support project financing. It will also be able to develop diversified revenue streams beyond government funding, subject to the approval and oversight of its board.
The chief minister underscored that the company must operate with robust governance, transparent performance review mechanisms and clear statutory oversight. He directed that the new structure should strengthen PPP nodes in provincial departments, empower competent officers and ensure that projects are processed efficiently without compromising accountability.
The meeting concluded that the restructuring would help improve administrative efficiency, facilitate innovative financing, enhance investor confidence and accelerate the delivery of development projects. The chief minister said the objective was to establish a capable, sustainable and responsive PPP institution that could contribute meaningfully to Sindh’s progress and prosperity.

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    ByJustpaste.in

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