Rs10 billion projects approved.
LAHORE -- In its maiden meeting, the Public-Private Partnership Policy and Monitoring Board (P-PPP and MB) on Tuesday approved projects worth Rs10.60 billion, hoping to give a fresh impetus to development paradigm in the province.
The board that met under the chairmanship of Chief Minister Usman Buzdar, approved projects, including establishment of a 'Weaving City' at M-3 Industrial city (Faisalabad) and Combined Effluent Treatment Plant at Sundar Industrial Estate and Quaid-i-Azam Industrial Estate (Lahore).
The 'Weaving City' is aimed at shifting thousands of power looms to this new location from the city, where these units not only create noise pollution, but also pose threat to people's health.
Similarly, the treatment plant is expected to improve environment and ecosystem through treatment of industrial wastewater and help improve quality of groundwater.
The board also approved Rs88.38 million for hiring Transaction Advisory Services to develop proposals for Dualisation of Sheikhupura-Hafizabad and Chiniot-Pindi Bhattian roads and Lai Expressway, Rawalpindi. The consideration of the bid of Lahore Ring Road (south loop) SL-III (8Km) was also placed and approved at a cost of Rs10.4 billion.
The board members were also apprised of new Public-Private Partnership (PPP) Ordinance under which Punjab PPP Authority has been established to facilitate achieving Punjab Growth Strategy target of seven per cent growth rate, sustainable economic development through PPPs, fostering private investment and enhancing the...
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