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Federal Cabinet Allows CDA to Enter Into Joint Ventures - Salman - 02-26-2015 06:45 PM
Islamabad: The federal cabinet has given the green light to the Capital Development Authority (CDA) to enter into joint ventures with private sector organisations. In a recent meeting with Prime Minister Mr Nawaz Sharif in the chair, the cabinet approved an amendment to an ordinance to allow the civic authority to undertake projects under public-private partnerships.
The approval was given after CDA Chairman Mr Maroof Afzal briefed the cabinet on various aspects of public-private partnerships. The cabinet was told that with the establishment of joint ventures, the financial constraints being faced by the authority could be overcome.
According to a news source, the need to change the ordinance was felt after the Supreme Court (SC) shot down a joint venture between the civic authority and a private firm to undertake development work in the Sector E-11.
The authority entered into this joint venture to develop 54 acres of land in the sector, but the SC cancelled the joint venture stating that there was no room for such partnerships in CDA’s charter.
CDA Spokesman Mr Ramzan Sajid told reporters that the authority also needed to develop joint ventures to ensure cleanliness in the federal capital.