Islamabad: (RightNow) The Prime Minister’s Advisor on Privatization, Muhammad Ali, states that privatization is crucial for Pakistan’s economic growth. He made this remark at an event organized by the Asian Development Bank.

Muhammad Ali emphasized the need for large-scale investment and infrastructure development in the country. Due to population growth, a 100% increase in basic facilities is expected.

He mentioned that the government alone cannot meet these developmental needs. Pakistan’s savings rate is lower compared to Vietnam and China.

It is important to note that the current PPP projects are valued at $36 billion, comprising 154 projects. These projects highlight Pakistan’s developmental potential.

Remember that the Federal PPP Authority Act 2017 is in effect in Pakistan. The government has shown commitment to promoting infrastructure development through privatization.