ISLAMABAD, March 22: Pakistan has asked the Word Bank (WB) to suggest a legal environment and regulatory framework clearly spelling out the role and risk of public and private parties to develop its infrastructure and sustain its over 7 per cent GDP growth. A World Bank mission called on Dr Salman Shah, Adviser to Prime Minister on Finance and Revenue here on Tuesday in the ministry of finance and discussed various options for institutional arrangements to develop infrastructure in Pakistan on the basis of public-private partnership.
The delegation led by Mr Clive Harris, an infrastructure specialist of South Asia, also comprised Mr Aijaz Ahmad of WB Infrastructure Advisory Services and Mr Abid Hassan, the bank’s representative in Pakistan.
Highlighting the need and necessity for infrastructure development in Pakistan to sustain the GDP growth over 7 per cent, Dr Salman Shah asked the WB mission to suggest a legal environment and regulatory framework clearly spelling out the role and risk of public and private parties.
He apprised the mission of various stages through which a project passed through in Pakistan including preparation of PC-1 of the project, examination by Central Departmental Working Party (CDWP), priority committee of ministry of finance and approval of the project by central Executive Committee of the National Economic Council (ECNEC).
The advisor informed the mission that the technical planning could be coordinated with the relevant agencies but the financial arrangements might be finalized in collaboration with the ministry of finance. For a viable project, the project sponsors and project financing needed to be kept separate, he said.
