LAHORE: Public Private Partnership Unit, Government of Sindh (PPPU) and InfraZamin Pakistan Limited (IZP), are pleased to announce the signing of a Memorandum of Understanding (MoU) to provide local currency guarantee solutions for infrastructure projects in Sindh under the Public-Private Partnership Mode. The aim of this collaboration is to foster economic and social development activities by offering a Credit Guarantee facility.
The signing ceremony, chaired by Syed Qassim Naveed Qamar, Special Assistant to CM Sindh for Investment Department and PPP Projects, was attended by officials and dignitaries from the public and private sectors. Assad Zamin, Director General of PPPU and Ms Maheen Rehman, CEO of IZP, signed the MoU on behalf of their respective organizations.
Established in 2010, the PPPU has emerged as a key player in fostering Public-Private Partnership projects, actively supporting government departments in project preparation and execution through strategic collaborations with private stakeholders. Acting as a dynamic catalyst for fostering successful partnerships, the PPPU has effectively delivered a multitude of projects across diverse sectors, boasting an impressive volume of approximately Rs58 billion. Presently, it manages an extensive portfolio valued at an astounding Rs700 billion. Notably, The Economist Magazine’s Intelligence Unit’s esteemed report “Infrascope 2018” recognized the Sindh Public-Private Partnership Programme as the 6th Best in Asia, solidifying its global reputation.
InfraZamin is an innovative credit enhancement Company, conceived and designed by the Private Infrastructure Development Group to issue credit guarantees for promoting private sector and public/private partnership infrastructure projects. Focus sectors are Renewable Energy, Water Sewage & Sanitation, Bulk Storage/Logistic Facilities, Digital Communications & Infrastructure, Affordable Housing, Health & Education, and Agricultural Infrastructure.
The collaboration between PPPU and IZP is poised to generate mutual benefits for all stakeholders, while fostering an investment-friendly climate in the Province of Sindh. This strategic partnership marks a significant milestone in ensuring financial inclusion and revitalizing overlooked sectors, with a special emphasis on the PPP projects in technological innovation, waste water treatments sectors, and modernization of overall Sindh’s infrastructure. Ultimately, this initiative aims to pave the path for comprehensive economic growth across Pakistan.
Copyright Business Recorder, 2023
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