Lahore: The Public-Private Partnership (PPP) Steering Committee approved Project Development Facility (PDF) funding worth PKR 302 million for its projects, a news source reported. This funding will cover over 10 projects worth PKR 138 billion.
The committee gave this approval during its 41st session chaired by the Punjab Minister for Finance Makhdoom Hashim Jawan Bakht. The departments concerned would utilise the PDF funds for the development of these projects and their execution on a PPP basis.
An official from the Planning & Development (P&D) Department stated that the PDF funds would help the authorities concerned carry out projects pertaining to urban development, road infrastructure, and transport.
The committee also approved the draft for the Viability Gap Fund (VGF) guidelines. The government has established this fund to fill the financial viability gap for projects that are suitable because of their strong socioeconomic value, even if they are not feasible financially.
Meanwhile, Bakht also directed the P&D Department to consider all traffic and environmental issues when preparing feasibility reports in order to encourage the use of environmentally friendly technology.
