Finance and Economic Affairs Minister Dr Abdul Hafeez Shaikh on Tuesday formed a Coordination Committee to expedite the build-operate-transfer (BOT) projects and to attract serious local and international parties for participating in these projects.
He was chairing a meeting in which a brief strategy for the fast track execution of projects was put forwarded by member (implementation and monitoring) of the Planning Commission. In a presentation, Planning Commission (implementation and monitoring) member proposed that an implementation board comprising Planning Commission deputy chairman as a chairman, and representatives from the concerned ministries and departments, was needed which has its own constitution and legal entity.
This board will focus on to assist executing agencies (EAS) to implement rules, regulation, policies and procedures for Public Private Partnership (PPP) arrangements, keeping in view laws and regulations defined by procurement regulators (PPRA) and international standards. The board will facilitate EAS for underdevelopment projects to ensure timely execution and completion and also coordinate among different ministries and departments to ensure fast track development and management of projects under Public Private Partnership (PPP) arrangements.
The Board will also coordinate with banks and financial institutions to devise and implement strategies for minimizing time consumed in the arrangement of financing for the concessionaire. It will also provide a forum for finalization 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.
National Highway Authority (NHA) chairman said that the board will prove to be useful and it will assist NHA in many ways. While concluding the meeting, the minister agreed to form a coordination committee which will work on the same lines as of proposed implementation board. The committee will comprise of Planning Commission deputy chairman, member (implementation and monitoring), NHA chairman, Communication secretary and Planning secretary.
This committee will especially focus on construction of mega project of Karachi-Hyderabad Motorway M-9.
