LAHORE: With the aim of improving transparency, governance and revenue generation, Punjab Chief Minister Maryam Nawaz Sharif has approved the establishment of the ‘Asset Management Authority of Punjab’ (AMAP), to ensure comprehensive identification, management and optimal utilisation of the province’s assets.
The AMAP will be responsible for the identification, management, transfer, disposal, payments and marketing of provincial assets. It will serve as a central institution for managing government-owned land and other public assets, covering all matters from land administration to leasing and sale.
The authority will also oversee site selection for asset transfers, prepare development and master plans, and manage the marketing, promotion and transaction design of transferred assets.
The decision was taken during a meeting chaired by the chief minister, to review the proposed legal framework and governance structure of the authority. The meeting was informed that AMAP would prepare a comprehensive digital database of government assets and ensure their regular market valuation.
As per briefing, the government properties with investment and privatisation potential will be identified on a priority basis. Various financing and development models, including leasing, rental arrangements, Public-Private Partnerships (PPP) and Joint Ventures (JV), will be utilised to maximise the value of provincial assets.
The authority will also be responsible for preparing feasibility studies, contract management, project implementation, monitoring and evaluation.
Chief Minister Maryam Nawaz directed the authorities to improve revenue generation through the sale, leasing and collateral financing of provincial assets. She observed that effective resource management required the government to have a complete record of all assets owned by the province.
She noted that no single institution previously existed to regulate Punjab’s scattered assets, adding that the absence of a central record, inadequate asset valuation and inefficient utilisation of government land had resulted in significant revenue losses. She also pointed out that public land remained vulnerable to illegal encroachments, while the recovery of valuable assets often involved lengthy and expensive litigation.
The chief minister said that a single autonomous institution would now be responsible for the comprehensive management and protection of provincial assets and appreciated the proposal for establishing the Asset Management Authority.
The meeting was informed that a high-powered governing board headed by the Punjab Chief Secretary would supervise the authority. A Grade-20 Managing Director will head its executive operations, while qualified professionals from the private sector will also be inducted on merit through a competitive selection process.
It was further decided that all matters relating to the transfer, valuation and management of provincial assets would remain subject to approval by the provincial cabinet. A governance and approval structure for the authority will be presented before the cabinet committee for final approval.
Officials also briefed the meeting on the authority’s operational process flow and informed participants that 98 per cent of the net income generated through projects would be deposited directly into the provincial treasury, while 2 percent would be retained by the authority to meet operational expenses and staff salaries. To ensure financial transparency, a dedicated AMAP Fund will be established. The authority’s governing board will comprise 11 members.
The meeting also decided that legislation for the establishment of the Asset Management Authority of Punjab would be introduced without delay.
Copyright Business Recorder, 2026