Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Shaikh while chairing a meeting Tuesday formed a co-ordination committee to expedite the build-operate-transfer (BOT) projects and to attract the serious local and international parties for participating in these projects.
A brief strategy for the fast track execution of projects was put forwarded by Member (Implementation and Monitoring) of Planning Commission. In a presentation, Member (Implementation and Monitoring) Planning Commission proposed that an Implementation Board comprising Dy. Chairman Planning Commission as a Chairman, and representatives from the concerned ministries/departments, is needed which will has its own constitution and legal entity. This board will focus on:
Assist Executing Agencies (EAs) to implement Rules, Regulation, Policies & Procedures for PPP arrangements, keeping in view laws and regulations defined by procurement regulators (PPRA) & International Standards. Facilitate EAs for underdevelopment projects to ensure timely execution and completion.
Co-ordinate among different Ministries & Departments to ensure fast track development & management of Projects under PPP arrangements. Co-ordinate with Banks & Financial Institutions to devise and implement strategies for minimising time consumed in the arrangement of financing for the Concessionaire. Provide a forum for finalisation of Agreements between EAs and investors/Developers, under PPP arrangements, where implementation body will act neutral to provide a balance between interests of Public and Private Parties.
Chairman National Highway Authority (NHA) added that the said board will prove to be useful and it will assist NHA in many ways. While concluding the meeting, the Finance Minister agreed to form a co-ordination committee, which will work on the same lines as of proposed Implementation Board. The committee will be comprised of Deputy Chairman Planning Commission, Member (Implementation and Monitoring) of Planning Commission, Chairman NHA, Secretary Communication and Secretary Planning..-PR
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