Centre approves setting up Pakistan Infrastructure Development & Asset Management Authority

Pakistan, October 22, 2024: The federal government has approved the formation of “Pakistan’s Infrastructure Development and Asset Management Authority (PIDMA)” to enhance the country’s infrastructure landscape.

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This new body will oversee and ensure the timely completion of critical infrastructure projects nationwide. Meanwhile, a comprehensive data bank for government assets should be created. The authority will also create a business-friendly environment to attract local and international investors.

PIDMA will also be responsible for exploring innovative financing models to fund key projects. The creation of the PIDMA is expected to establish a comprehensive data bank to catalog government properties, buildings, machinery, equipment, and land.

The purpose is to enhance transparency in asset management. Moreover, an eight-member board, including the chairperson, the secretary of the relevant Ministry, and the CEO, will be appointed for three years to oversee the operations.

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Initially, the government will fund PIDMA; however, the body will later generate revenue through registration and licensing fees. A centralized infrastructure management body will ensure the efficiency of the development projects that contribute to national development.