Sialkot-Kharian motorway’s ‘transaction structure’ gets the green signal

By Staff Reporter
Wednesday – June 9, 2021
ISLAMABAD: The planning, development and special initiatives (PDSI) minister Asad Umar, on Tuesday, chairing a meeting of the board of directors (BoDs) of public private partnership authority (PPPA) considered the transaction structure for Sialkot–Kharian motorway project and gave the go-ahead signal to the proposed transaction structure subject to codal formalities.

According to press releases, PDSI minister chaired the 12th meeting of the BoDs of PPPA in the federal capital.

The board considered transaction structure for Sialkot–Kharian motorway project wherein the communication ministry, the national highway authority (NHA), briefed that transaction structure as proposed by the winning proponent and approved by NHA is in accordance with structure earlier approved by the board.

The board gave go-ahead to the proposed transaction structure subject to the codal formalities.

NHA will commence negotiation with the preferred consortium of M/S FWO-SMC and finalise the concession agreement of the project.

Separately, PDSI minister Umar, addressing a press conference on Tuesday, said, “Water is one of the key issues, therefore the incumbent regime has increased water funding in the development budget from four percent to 10 percent” adding “Similarly, special attention has been given to investment in social sectors including health, education and environment.”

He continued, “The incumbent regime also believes that different parts of the country should have equal development opportunities” informing “Therefore, the development budget for social and regional equality projects has been increased from 23 percent to 31 percent.”

PDSI minister Umar mentioned, “The productive sectors, including agriculture and industry, as well as science and technology and information technology (IT), are of special importance for the growth and productivity of the economy” concluding “To make Pakistan the economy of the 21st century, the development budget of these sectors has been increased from two percent to five percent.”