ISLAMABAD: Finance Minister Asad Umar chaired a high-level meeting on Monday to discuss matters pertaining to operationalisation of Pakistan Infrastructure Bank (PIB) and Public Private Partnership Authority (PPPA).

The minister said the two institutions aim to play a vital role in enhancing investment-to-GDP ratio and spur overall economic growth.

The PIB is expected to be operational sometime this year which will provide facility for long-term investment to commercially viable projects. It will also provide support to social sector projects besides helping create a long-term debt market and the International Finance Corporation is partnering with the government to establish the bank.

Moreover, the Asian Development Bank is also providing technical and professional support for operationalising PPPA which aims to forge public-private sector cooperation for long-term development projects.

The meeting also gave nod of approval to initiate procedures for hiring top level officials for both the institutions.

Published in Dawn, February 26th, 2019