ISLAMABAD: The Board of the Public Private Partnership Authority (P3A) has approved funding support for transaction advisory services for the Islamabad Technopolis Project and allowed the hiring of International Financial Institutions (IFIs) as transaction advisors for the M-10 Motorway and Guru Nanak Expressway projects.
The decisions were taken during the 44th meeting of the P3A Board, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairperson of the P3A Board.
The meeting was attended by P3A Board members, senior officials of the authority, and representatives from the Special Technology Zones Authority (STZA), Railway Estate Development and Marketing Company (REDAMCO), and National Highway Authority (NHA).
The board approved Project Development Facility (PDF) support for STZA’s Islamabad Technopolis Project, which aims to establish a world-class integrated technology park in Islamabad through a public-private partnership model.
The project is expected to promote technology exports, innovation, skilled employment and technology transfer while attracting private sector investment. The approved funding will support project preparation and transaction advisory work to develop a viable PPP framework.
The board also discussed the commercial development of Pakistan Railways’ prime properties through REDAMCO to unlock their potential through private sector participation and generate long-term revenue.
Under the proposal, a pilot Karachi cluster will be developed, followed by the phased development of other railway properties based on the outcomes of the initial project.
For the M-10 Karachi-Hyderabad Motorway and Guru Nanak Expressway projects, the board approved NHA’s request to directly hire IFIs as transaction advisors under the P3A regulations.
The IFIs will review existing project studies, optimise designs, develop commercially viable structures and assist NHA in attracting qualified investors for PPP implementation.
The M-10 Motorway is expected to improve connectivity between Karachi and Hyderabad and facilitate freight movement, while the Guru Nanak Expressway aims to enhance access to Kartarpur and support religious tourism, hospitality and related commercial activities.
The board also held strategic discussions on strengthening P3A’s role, increasing government ownership of PPP projects and prioritising initiatives based on national needs, market potential and project readiness.
Muhammad Ali said P3A would continue working to convert investment opportunities into bankable PPP projects and support implementing agencies in moving priority projects towards commercial and financial completion.
