Chairman Capital Development Authority (CDA) Muhammad Ali Randhawa has stressed the need to transform the Authority into a dynamic institution through adopting the practices of Public Private Partnership Authority (P3A). Chairman a meeting here on Wednesday, he said that the P3A would provide technical support to the civic body for investment in the real estate sector. “We aim to utilize the assistance and expertise of the P3A to initiate major projects for the promotion of tourism in Islamabad,” he added. The meeting was also attended by the P3A and international consultants. Muhammad Ali Randahawa said that instead of auctioning assets, a policy to create permanent sources of income would be implemented.

“Through the platform of the Public Private Partnership Authority, the CDA is keen to work on projects that generate permanent income,” he added. The CDA was considering to initiate the projects for permanent sources of income through a professionally strong platform, he added. The Chairman CDA said that the authority was planning to start short-term and long-term projects with the assistance of the Public Private Partnership Authority. It was decided in the meeting that the teams from both institutions would work together and consider the projects to be initiated. The experiences and expertise of other government institutions will be utilized in this regard, the meeting decided.

Credit: Independent News Pakistan