ISLAMABAD -  The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved the “Infrastructure Finance Policy Pakistan 2017”.

Federal Finance Minister Senator Ishaq Dar chaired the meeting of the Economic Coordination Committee here at the PM Office. During the meeting, ECC considered and approved the “Infrastructure Finance Policy Pakistan 2017”. Under the said policy, a sound and long-term infrastructure finance framework has been provided that caters to both demand and supply side of finance and it is designed to attract Foreign Direct Investment (FDI) and mobilise private financing for public infrastructure.

The policy envisages phase-wise intervention in the following areas to increase the quantum of infrastructure financing flows: Forward looking policy framework for infrastructure finance, good practices infrastructure projects initiation framework, enhanced financial intermediation for infrastructure investment and strengthening of development finance framework.

This policy is intended to have particular focus on infrastructure sub-sectors more suited to private sector investment and finance namely transportation facilities (including but not limited to ports, terminals, airports, railways, water-ways and toll roads), energy (oil and gas, thermal, hydro and other renewable power infrastructure) and telecommunications (eg fiber optics).

The minister hoped that the approval of the policy would help the government to increase infrastructure investments. It would facilitate and increase the role of the private sector in the infrastructure development structure.