Prime Minister Shehbaz approves streamlining of P3A to speed up development projects

Prime Minister Shehbaz Sharif on Tuesday gave in-principle approval to further integrate and strengthen the Public-Private Partnership Authority (P3A) and its related framework to accelerate development initiatives during 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 expedite development projects through public-private partnerships (PPP) and directed the authorities to speed up the implementation of the newly approved system.

“The meeting decided that P3A would be placed under the privatization department to align its performance with modern requirements and improve efficiency in PPP-based projects,” it said.

The statement further added that the prime minister directed that the capacity of relevant ministries and departments should be enhanced to enable them to initiate development projects through public-private partnerships.

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

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“The meeting was given a comparative overview of PPP models in different countries at the regional and global levels, along with a briefing on the proposed new system. Officials said that under the new framework, the Cabinet Committee on Privatization and the Privatization Department would oversee 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, Finance Minister Ahad Khan Cheema, Advisor to Prime Minister Muhammad Ali, Prime Minister Bilal Azhar Kayani and other senior officials.