Islamabad: Public Private Partnership Authority (PPPA) on Friday (August 27) approved PKR 27.8 billion Sialkot-Kharian Motorway, according to media reports. As per details shared, the project includes the construction of a 69-kilometre long four-lane toll road on a Build-Operate-Transfer (BOT) basis.
Planning Minister Asad Umar chaired a board of director’s meeting, in which the signing of the motorway project was approved. In his tweet, the minister disclosed that the Sialkot-Kharian Motorway project is the first project to be developed under an innovative financial structure by Viability Gap Funding (VGF). He stated that it is a breakthrough in the development financing instrument.
Additionally, it was reported that the construction of the motorway project will be on Public Private Partnership basis. Asad Umar also mentioned that projects, worth PKR 1 trillion are in pipeline. It is pertinent to mention previously, the board approved the bidding documentation package and transaction structure in March, and the bidders’ proposal in June.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
