Port Qasim hopes $4-bn FDI

Karachi: The Port Qasim Authority (PQA) is expecting $4 billion foreign direct investment (FDI) in its various projects to be constructed in the proximity of the port. The PQA has earmarked an investment of Rs 8 billion in various development plans in the port.


This was stated by the Chairman PQA, Vice Admiral Asad Qureshi while speaking at the launch of PQA's Procurement Manual with the help Transparency International Pakistan. He said, the Port Qasim Authority (PQA) contributed Rs 72 billion of revenues to the national kitty last year.


Admiral Asad Qureshi appreciated the TI Pakistan for the assistance it has been providing for the transparency in its procurement procedures. The PQA used the services of TI Pakistan to have their tender documents vetted to comply to the Public Procurement Regulatory Authority (PPRA) rules 2004.


He said, the authority would ensure that all procurements would be most transparent, so that they could obtain the best at the least price. The PQA's staff to study and follow the Procurement Manual in totality, he advised. The Chairman of Transparency International (TI) Pakistan, Syed AdiI Gilani explained the history as to how TI Pakistan was involved in the development of the National Anti Corruption Strategy, the promulgation of the Pakistan Regulator Authority and the formation of the PPRA rules 2004.


'The implementations of these rules are mandatory in all procurements of the Federal and Sindh Government,' he pointed out. He said that the TI Pakistan had signed Memorandum of Understandings (MoUs) with a number of government agencies and the TI Pakistan were assisting these agencies in building their capacities to comply to the PPRA rules.


In this regard, a workshop had already been conducted to train procurement officials from a number of government departments, he added. The Procurement Manual comprises of all the standard bidding documents on procurement of works, goods and service based on international standards of the World Bank.


The International Federal of Consulting Engineers (FIDIC) and the Pakistan Engineering Council duly amended to comply with transparent procurement procedures, recommended by the National Accountability Bureau (NAB) in the National Anti Corruption Strategy of 2002, and fully compliant to the Public Procurement Rules (PPR) of 2004.


Director General of NAB, Sindh, Major General Mukhtar Ahmad appreciated both PQA and TI Pakistan on successfully developing the Procurement Manual. He said that this would enhance the capabilities of the PQA Procurement Staff.


He further said that the present government was determined to implement transparent procedures in all its dealing and was paying special attention to Transparent Procurement.


He assured that the NAB would comply with the provisions of the Procurement Manual while examining all contracts, especially those projects worth over Rs 50 million, as mandated by law. He explained that the NAB had circulated an evaluation form, which has to be completed by all federal agencies and forwarded along with contract documents of all its procurement.