KARACHI - The British Deputy High Commissioner Mike Nithavrianakis called on the Karachi Commissioner Dr. Muhammad Sohail Rajputat at his office.
Director General Public Private Partnership (PPP) Unit Khalid Mehmood Sheikh also attended the meeting, said a statement released here on Sunday. During the meeting, the Director General PPP Unit gave a detailed presentation about the progress of the PPP Unit Sindh. The visiting dignitary was apprised about the executed projects in Health, Education and Infrastructure sectors under PPP mode.
Moreover, the future mega projects under PPP mode, including the Malir Expressway Project (3x3 lane 39.75 KM road for easing traffic in Karachi City), Water Conveyance Project for supplying 45 Cusec water to IPPs in Thar Block I and Waste Water Treat Plant for SITE were discussed in depth.
The Karachi Commissioner said that the Government of Sindh was fully cognizant of the water problem faced by the people of Karachi and mega interventions on a sustainable basis were being undertaken. He further stated that currently the Asian Development Bank was providing assistance to the PPP Unit on treatment of 360 MGD of waste water, while the International Finance Corporation was providing Transaction Advisory services on revamping the Hub Canal.
Mike Nithavrianakis lauded the efforts of Sindh Government in attracting private investment through a robust PPP framework and felicitated Commissioner Karachi and DG PPP Unit on achieving the status of 6th Best PPP Unit in Asia, as declared by The Economist Magazine – world’s prominent journal. He further stated that the British Government, being a pioneer in the Private Finance Initiative (PFI), was fully committed to collaborate in the area of Public Private Partnership.
He further emphasized that Pakistan could also benefit from UK Export Finance (UKEF)- UK Government export agency, to support a diverse range of international projects which could further boost trade between both the countries. UKEF provides support to UK exports through guarantees, loans and insurance, provide competitive financing to overseas companies to support more renewable projects overseas.
Pakistan currently has an allocation of £2 billion of direct lending which needs to be fully utilized.
The Karachi Commissioner and Mike Nithavrianakis agreed to hold further discussions on UKEF, areas of mutual interest and cooperation.