Key Takeaways
- Federal Minister for Economic Affairs Senator Ahad Cheema met with IFC and World Bank representatives to discuss development cooperation.
- The focus is on supporting SMEs, PPP projects, and housing finance to drive economic growth.
- The government aims to strengthen the Public-Private Partnership Authority to facilitate more projects.
Federal Minister for Economic Affairs Senator Ahad Cheema met with International Finance Corporation (IFC) Regional Director Simon Andrews and World Bank Country Director for Pakistan Bolormaa Amgaabazar to discuss key development priorities in Pakistan.
The minister highlighted the government’s commitment to advancing public-private partnership (PPP) projects and strengthening the Public-Private Partnership Authority (P3A).
Andrews expressed IFC’s interest in supporting the SME sector, which the minister noted is crucial for Pakistan’s economic growth and job creation.
Cheema welcomed the focus on SMEs and emphasized the importance of PPP projects in collaboration with international development partners.
The minister outlined steps to strengthen the P3A, including placing it under the Privatisation Division and preparing new legislation to expand its role.
Under the proposed framework, P3A would help ministries develop and promote projects, mobilise financing, and regulate projects implemented through the authority.
The IFC and World Bank representatives appreciated the government’s initiative to strengthen the PPP framework, which is essential for driving economic growth.
On housing finance, Cheema said the government is working to help people build their own homes and improve access to housing facilities.
The minister invited the IFC to support efforts to expand housing finance, enabling more people to access financing to build homes.
