Prime Minister Shehbaz approves streamlining of P3A to accelerate development projects

Prime Minister Shehbaz Sharif on Tuesday gave in-principle agreement to further integrate and strengthen the Public-Private Partnership Authority (P3A) and its related framework to accelerate development initiatives at a high-level meeting.

According to a statement from the Prime Minister’s Office (PMO), Prime Minister Shehbaz chaired a high-level meeting in Islamabad to accelerate development projects through public-private partnerships (PPPs) and asked the authorities to expedite the implementation of the newly approved scheme.

“The meeting decided that the P3A would be brought under the management of the Privatization Division to align its performance with modern requirements and improve the efficiency of PPP-based projects,” the statement said.

The statement further added that the Prime Minister directed that the capacity of relevant ministries and departments be strengthened to enable them launch development projects through public-private partnerships.

The Prime Minister said PPP-based projects should be part of the key performance indicators (KPIs) of ministries and departments, adding that “through the P3A, we are making the public-private partnership system more transparent and faster.”

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“The meeting provided a comparative overview of PPP models in various countries at regional and global levels, as well as a briefing on the proposed new system. The officials said that under the new framework, the Cabinet Committee on Privatization and the Privatization Division would supervise the P3A,” the statement read.

The meeting was attended by federal ministers including Planning Minister Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, Law Minister Azam Nazeer Tarar, Economy Minister Ahad Khan Cheema, Prime Minister’s Advisor Muhammad Ali, State Minister Bilal Azhar Kayani and other senior officials.