Infrastructure Finance Policy Pakistan 2017 approved by ECC
ISLAMABAD: (APP) The Economic Coordination Committee (ECC) of the Cabinet Tuesday approved the Infrastructure Finance Policy Pakistan 2017 to provide a sound and long term infrastructure finance framework.
The meeting of the committee was chaired by Finance Minister, Senator Mohammad Ishaq Dar here at Prime Minister's Office.
Under the policy, a sound and long-term infrastructure finance framework has been provided that caters to both demand and supply side of finance.
The policy is designed to attract Foreign Direct Investment and mobilize private financing for public infrastructure.
The policy envisages phase-wise intervention of various areas to increase the quantum of infrastructure financing.
It envisages 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.
The policy intends to have particular focus on infrastructure sub-sectors more suited to private sector investment and finance.
It would cater to transportation facilities including, but not limited to, ports, terminals, airports, railways, water-ways and toll roads.
The Energy including oil and gas, thermal, hydro and other renewable power infrastructure and telecommunications (fiber optics) would also be target under the policy.
On the occasion, the Finance Minister expressed the hope 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.