Khusru for commercially viable infrastructure projects by resorting to innovative financing

ISLAMABAD: Minister for Planning Development and Reform Makhdom Khusru Bakhtiar Monday said the government is planning to off load some burden from Public Sector Development Program for commercially viable infrastructure projects by resorting to innovative financing through public private partnership and viability gap financing.

He said this in a meeting with a delegation led by Asian Development Bank (ADB)'s Central West Asian Department Director General Werner Liepach, called on him, a press release said.

Member infrastructure, member private sector development and competitiveness, Macro economics chief and senior officials from ministry were also present in the meeting.

The minister said the government is also trying to reduce regional inequality through regional equalization strategy.

He lauded the role of ADB in modernizing infrastructure initiatives in Pakistan adding the cooperation further needed to be expanded in the education, health, water, energy and infrastructure especially in the under developed areas of the country.

The minister said the government is also trying to use cities as engine of growth and trying to develop 50 intermediate cities across the country by developing basic urban infrastructure.

He also stressed the need for impact assessment of the projects on regional growth and creation of job opportunities for locals.

Khusru Bakhtiar also informed the delegation about the government’s vision of restructuring the public sector and improving the governance for more efficient service delivery.

The ADB also ensured that it will help the government in mobilizing required resources in local currency bonds, is ready to provide transaction advisory services for developing institutional capacity and competitiveness.

Werner Liepach said the ADB is also working on important infrastructure projects in Karachi and also has a program with Punjab government regarding intermediate city development.

In this regard, work is also going on in two cities Sahiwal and Sialkot.