"According to the international financial institutions, about 7 to 8 percent of GDP is required to be spent on infrastructure annually in developing states while currently Pakistan is spending 3 to 4 percent of the GDP," said Ghulam Murtaza Satti, leader of Infrastructure Project Development Facility (IPDF) on Friday.
He said that PPP co-chairman Asif Ali Zardari, who is fully cognisant of this situation and wants accelerated pace of development of infrastructural projects, has strictly instructed IPDF, the Planning Commission and ministries to strengthen their co-ordination through adopting a uniform strategy on the subject.
He said that Zardari directed all concerned departments to involve more and more private sector participation in development projects as being successfully done by the IPDF. "Zardari has also instructed the IPDF to ensure speedy completion of the infrastructural projects being executed under the Public Private Partnership so that further projects are initiated," said Satti.
He said that some corrupt elements in the relevant government departments are making efforts to escape IPDF because on this platform it is impossible for them to make corruption. The present government is fully aware of private partnership in development and the IPDF would play a leading role in this regard.
About the significance of Public Private Partnership, Ghulam Murtaza Satti said that its framework is a pre-requisite for rapid economic growth as it provides a strong base for taking the country on the path of rapid progress. He also revealed that India has planned $391 billion investment in infrastructural projects in the next five years out of which $209 billion is expected to be invested by the private sector.