Lahore: A Memorandum of Understanding between Punjab government and International Finance Corporation(IFC), a subsidiary organization of the World Bank, was signed here today, at Arfa Karim Software Technology Park, for promoting public-private partnership in the province. The MoU was signed by Member Planning & Development (Public-Private Partnership) Dr. Arshad Mehmood on behalf of Punjab government while Moazam Macan signed on behalf of IFC. Punjab Chief Minister, Muhammad Shahbaz Sharif was the chief guest on the occasion. Advisor Mansha Ullah Butt, Secretary Food and other concerned officials were also present. Under the MoU, IFC would provide technical, financial and legal assistance, along with providing consultative services in the identification, preparation and implementation of projects in various sectors. The IFC would also provide technical assistance to the investors in marketing, road shows and tendering.
Earlier, talking to the delegation of IFC, the Chief Minister said that Punjab government is vigorously incentivizing public-private partnership in the province, while the public-private partnership cell set up by the Punjab government is monitoring stocks of grain and the projects relating to the sectors of communication, transport and livestock. He said that IFC, which is an internationally renowned institution for promotion of public private partnership, would prove to be greatly beneficial to the Punjab government in achieving its development targets. The Chief Minister said that the country is facing severe energy crisis which can only be solved through public-private partnership in energy sector. Muhammad Shahbaz Sharif said that a conducive atmosphere has been provided to the foreign investors in Punjab, while transparency is the hallmark of every project of Punjab government. He said that Punjab government is taking revolutionary steps for the betterment of transport sector and pointed out that metro bus project is a glorious project in the transport history of Pakistan, which is being expeditiously completed. He said that with the completion of this 32 km-long metro bus project, comfortable, speedy and affordable travelling facility would become available to the citizens. He said that metro bus project is a state-of-the-art transport project which will bring about a revolutionary change in the transport sector. Muhammad Shahbaz Sharif said that public service is the basis of every development project launched by the Punjab government and emphasized that transparency would especially be ensured in the completion of projects initiated under public-private partnership. The delegation of IFC greatly appreciated the policies and steps of Punjab Chief Minister Muhammad Shahbaz Sharif for the progress and prosperity of Punjab.