PM Shehbaz approves rationalization of P3A to accelerate development projects

Prime Minister Shehbaz Sharif on Tuesday gave his 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 by 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 directed the authorities to accelerate the implementation of the newly approved system.

“The meeting decided that the P3A would come under the Privatization Division to align its performance with modern requirements and improve efficiency in PPP-based projects,” he said.

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

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

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“The meeting provided a comparative view of PPP models in various countries regionally and globally, along with a briefing on the proposed new system. Officials said that under the new framework, the Cabinet Committee on Privatization and the Privatization Division would oversee the P3A,” the statement said.

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