On the directives of Prime Minister Shehbaz Sharif, two committees comprising of key stakeholders in public-private partnerships (PPP) are established under Public Private Partnership Authority.

The inaugural meeting of the committees was held under the Chairmanship of Federal Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, in Islamabad today.

These committees are tasked with advising the government on introducing measures in the upcoming Budget 2024-25 and are aimed at increasing private sector investment in infrastructure financing.

Addressing the committees' stakeholders, Ahsan Iqbal highlighted the nation's economic challenges, with a significant reduction in the development budget over five years.

The Minister outlined Pakistan's financial constraints, including a deficit between income and debt servicing obligations, urging for tax restructuring and innovative financing solutions.

He said by providing the right incentives, we can attract private investment for infrastructure projects with commercial potential, while the government can cover any market gaps.

He said a collaborative approach between the government and private sector is essential for this success.

The Planning Minister urged stakeholders of private sector for their continued support and feedback to develop robust PPP policies, creating a successful and sustainable public-private partnership model in Pakistan.