Latest news with #Public-PrivatePartnerships
Business Recorder
3 days ago
- Business
- Business Recorder
Sindh will present pro-people budget: CM
KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Saturday held a high-level Cabinet meeting with Ministers, Advisors, Chief Secretary Asif Hyder Shah and relevant secretaries to deliberate on provincial budget proposals for the upcoming fiscal year 2025-26. The meeting underscored government's commitment to inclusive development, poverty alleviation, and sustainable progress in line with the directives of PPP Chairman Bilawal Bhutto Zardari. Opening the session, Murad Shah said, 'I want to engage all cabinet members thoroughly in shaping the next budget to ensure it addresses the real needs of our people. Under Chairman Bilawal Bhutto Zardari's leadership, we have collected proposals from every district to make this budget representative and impactful.' The CM outlined the core focus areas of the new budget, emphasising water supply and drainage, solar energy expansion, education, healthcare, agriculture, and industrial growth. 'This year (2024-25), we have not introduced any new schemes under the priority to complete ongoing projects,' he said. He added that in the upcoming budget, Chairman Bilawal Bhutto has issued instructions for launching new initiatives that bring tangible benefits to the people. The important highlights from the meeting include continued rehabilitation efforts for flood-affected communities, repair of schools and hospitals, and launching new mega projects through Public-Private Partnerships to boost infrastructure and services, strengthening social protection programmes aimed at eradicating poverty and increasing budget allocations for repair and maintenance, as well as upgrading hospital equipment and completion of transport projects in Karachi to improve urban mobility. Proposals given by the cabinet members include reducing non-development expenditures and empowering local governments to become financially self-reliant, introducing digital cash transfers with incentives to enhance social welfare delivery, expanding solid waste management and solar energy systems across the province, and constructing new bus stands in multiple districts to improve public transportation. The CM also highlighted the importance of federal-provincial coordination, stating, 'We will finalise the budget based on the federal government's funding commitments (provincial share) and our provincial revenue targets to ensure fiscal responsibility and effectiveness.' 'After Eid, we will hold further meetings to finalise and approve the budget proposals. Our goal is to present a budget that is transparent, development-oriented, and focused on improving the lives of every Sindh resident,' the Chief Minister concluded. This proactive approach signals Sindh's dedication to sustainable development, social equity, and efficient governance in the coming financial year.
Business Recorder
3 days ago
- Business
- Business Recorder
Sindh govt says will launch new mega projects in upcoming budget
Sindh Chief Minister Syed Murad Ali Shah convened cabinet meeting with ministers, advisors, Chief Secretary Asif Hyder Shah, and relevant secretaries to deliberate on the province's budget proposals for the upcoming fiscal year 2025-26, a statement from the CM House said on Saturday. The meeting underscored the government's commitment to inclusive development, poverty alleviation, and sustainable progress in line with the directives of PPP Chairman Bilawal Bhutto Zardari, it added. Opening the session, Murad Shah said, 'I want to engage all cabinet members thoroughly in shaping the next budget to ensure it addresses the real needs of our people.' Cash withdrawals from banks: FBR proposes raise in WHT for non-filers The CM outlined the core focus areas of the new budget, emphasising water supply and drainage, solar energy expansion, education, healthcare, agriculture, and industrial growth. 'This year ((2024-25), we have not introduced any new schemes under the priority to complete ongoing projects,' he said. For the upcoming budget, he added, Bilawal Bhutto has issued instructions for launching new initiatives that 'bring tangible benefits to the people'. As per the CM House, the important highlights from the meeting included continued rehabilitation efforts for flood-affected communities, repair of schools and hospitals, and launching new mega projects through Public-Private Partnerships to boost infrastructure and services, strengthening social protection programmes aimed at eradicating poverty and increasing budget allocations for repair and maintenance, as well as upgrading hospital equipment and completion of transport projects in Karachi to improve urban mobility. Proposals given by the cabinet members included reducing non-development expenditures and empowering local governments to become financially self-reliant, introducing digital cash transfers with incentives to enhance social welfare delivery, expanding solid waste management and solar energy systems across the province, and constructing new bus stands in multiple districts to improve public transportation. Industrial raw materials: Proposals for duty cuts to be submitted to PM The CM also highlighted the importance of federal-provincial coordination, stating, 'We will finalise the budget based on the federal government's funding commitments (provincial share) and our provincial revenue targets to ensure fiscal responsibility and effectiveness.' 'After Eid, we will hold further meetings to finalise and approve the budget proposals. Our goal is to present a budget that is transparent, development-oriented, and focused on improving the lives of every Sindh resident,' he said.
Indian Express
27-05-2025
- Business
- Indian Express
Urban Challenge Fund needs to be utilised to reimagine small towns
Written by Bhuma Raman India is at the cusp of an exciting transformation in urban development. With the announcement of the Rs 1 Lakh Crore 'Urban Challenge Fund', the Government of India is taking a bold step towards reimagining our cities. This fund, with Rs 10,000 Crore earmarked for the first year, seeks to tackle the most pressing challenges in urban growth and development. The Urban Challenge Fund is designed to address three aspects. First, to make cities productive and efficient centres of economic growth; second, to develop and redevelop them in a creative way, and third, to improve infrastructure, especially water and sanitation. The fund will provide 25 per cent financing for bankable projects, with a stipulation that at least 50 per cent of the cost will be raised through bonds, bank loans, and Public-Private Partnerships (PPP). According to the World Bank report, over 600 million people are expected to live in Indian cities by 2036, signalling an extensive urban expansion. This growth presents significant opportunities, but also severe challenges. Overcrowding, inadequate infrastructure, housing shortages, and traffic congestion are major concerns in cities like Delhi, Mumbai, and Kolkata. The demand for water, sanitation, transportation, and healthcare is outpacing the capacity of urban systems, leading to inefficient service delivery and environmental degradation. Additionally, millions live in slums without access to basic amenities. Social inequality remains a critical issue, with marginalised groups often excluded from growth opportunities. Moreover, poor urban planning and fragmented governance hinder effective solutions. Addressing these challenges requires sustainable urban planning, investments in affordable housing, improving infrastructure, and embracing technology. A World Bank report estimates that India will need to invest $840 billion (Rs 70 lakh crore) over the next 15 years — or an average of $55 billion (Rs 4.6 lakh crore) per annum — into urban infrastructure if it is to effectively meet the needs of its fast-growing urban population. The budget allocation of Rs 10,000 crore is far less than what is needed to meet India's urban challenge. The report also recommends expanding the capacities of city agencies to deliver infrastructure projects. Currently, the 10 largest Urban Local Bodies (ULBs) were able to spend only two-thirds of their total capital budget over the three recent fiscal years. At present, the central and state governments finance over 75 per cent of city infrastructure, while ULBs finance 15 per cent through their own surplus revenues. Only 5 per cent of the infrastructure needs of Indian cities are currently being financed through private sources. Between 2011 and 2018, urban property tax stood at 0.15 per cent of GDP compared to an average of 0.3-0.6 per cent of GDP for low- and middle-income countries. Low service charges for municipal services also undermine their financial viability and attractiveness to private investment. Over the medium term, the report suggests a series of structural reforms, including those in the taxation policy and fiscal transfer system, which can allow cities to leverage more private financing. In the short term, it identifies a set of large, high-potential cities that can raise higher volumes of private financing. Notwithstanding these recommendations, this article argues for investment in the small towns of India for more inclusive growth. There is strong evidence that India's level of urbanisation is higher than official statistics suggest. This discrepancy arises because peripheral urban areas are often classified as rural in official data. Researchers have proposed alternative estimates by broadening the official definition of what constitutes an urban area. Additionally, population growth in India's megacities has slowed between 2001 and 2011 compared to the previous decade (1991-2001). Further investigation is needed to understand the reasons behind this decline. Recent research in India suggests that large cities are not necessarily the main drivers of economic growth. The limited availability of formal sector jobs in urban areas, beyond those requiring highly specialised skills, has led to 'exclusionary urbanisation.' As a result, urbanisation in India is becoming more dispersed, with small towns growing at a faster pace than cities between 2001 and 2011. It is now recognised that small and medium towns (S&MTs) can play a crucial role in development by leveraging their cost advantages in manufacturing, including lower production and living expenses. These towns also contribute significantly to the diversification of the rural economy, and their growth is seen as more important than that of cities in reducing rural poverty. S&MTs support rural development by providing essential market services and acting as links between rural and urban areas. Further, the post-Covid trend to adopt collaborative workspaces not only offers new opportunities for remote workers but can also stimulate the development of small and medium towns by fostering new businesses and entrepreneurial activity. They can be seen as valuable components of a town's social infrastructure, potentially contributing to more sustainable and holistic regional development Nearly 70 per cent of future job growth is expected to occur in cities, especially emerging ones with populations under 1 million, which will drive consumption. With 70 per cent of India's urban landscape for 2030 still undeveloped, significant opportunities arise for domestic and international investments in infrastructure and development. A June 2023 EY report emphasised the potential of small towns, predicting a boost to India's economy. Infrastructure improvements, supportive policies, and a skilled workforce in Tier 2 cities could increase growth from 11 per cent (2019–2023) to 14 per cent (2023–2030). The report identified cities like Visakhapatnam, Jaipur, Vadodara, and Kochi as emerging hubs for Global Capability Centres (GCC), with Coimbatore set to become a major GCC centre by 2030. India's smaller towns have potential for rapid urban growth due to lower costs, skilled workers, and market opportunities, but a lack of infrastructure remains a barrier. There are barely 100 cities, including metropolises and megapolises, in India as against 7000-plus small towns. These towns are in dire need of investments in infrastructure, provision of essential services including health and education, and employment generation on an emergency footing, which will not only help in shifting labour from agriculture, but also help in reducing the burden of migration on large cities. The ULBs of these small and medium towns also need to undertake capacity-building measures to meet this urban challenge. The Urban Challenge Fund is an opportunity to tackle the issue of small-town development rather than focusing on large cities. The experience with JNNURM (Jawaharlal Nehru National Urban Renewal Mission) and Smart Cities Mission shows that focusing on large cities does not automatically lead to a ripple effect. The disparities in regional development continue to persist. The writer is co-convener, Habitat Forum (INHAF)
The Hindu
25-05-2025
- Business
- The Hindu
CRDA Commissioner visits New Delhi, seeks investments for Amaravati project
AP-Capital Region Development Authority (AP-CRDA) Commissioner K. Kannababu led a series of high-level meetings aimed at mobilizing investments for the construction of capital city Amaravati, in New Delhi and Gurgaon on Sunday. He also visited the Delhi Aerocity, Gurgaon, The Camellias by DLF, where he had deliberations on premium mixed-use urban development, which forms a critical component of Amaravati's infrastructure vision. He had an interaction with the Managing Director of a leading shared workspace provider on integrating flexible, ready-to-occupy professional workspaces into Amaravati's urban landscape. Mr. Kannababu then visited the One and Two Horizon Centres in Gurgaon and obtained perspectives on cutting-edge commercial space design and Global Capability Centre - readiness. He had strategic sessions with Surbana Jurong and Knight Frank regarding innovative financing models, including Public-Private Partnerships (PPP) and infrastructure bonds, to enhance Amaravati's capital investment portfolio. Also, he held discussions with the Collage Group and Omaxe Ltd. on the development of large-scale infrastructure, including sports stadiums. Mr. Kannababu also announced plans to develop a 1-km-long green canopy along a key stretch in Amaravati inspired by Delhi's Yamuna Biodiversity Park. This canopy will feature three tiers of plantations on both sides of the road, designed to filter air pollution, and be adorned with vibrant, multi-coloured flowers for aesthetic appeal. The AP-CRDA Commissioner was accompanied by Chairman of Urban Green Spaces for CRDA C.R. Babu and other officials.
Egypt Today
25-05-2025
- Business
- Egypt Today
Egypt, U.S. Mark $47B Investment over past 20 years: Prime Minister
CAIRO – 25 May 2025: During the opening session of the 2025 U.S.-Egypt Policy Leaders Forum, Prime Minister Mostafa Madbouly announced that more than 1,800 American companies are currently operating in Egypt, with cumulative U.S. investments surpassing $47 billion over the past 20 years. He praised the American Chamber of Commerce in both Egypt and the U.S. for organizing the forum, calling it a vital platform to strengthen strategic dialogue and mutual cooperation. In his address, Prime Minister Madbouly underscored the deep-rooted economic partnership between Egypt and the United States, built on mutual respect, shared prosperity goals, and decades of constructive engagement. He emphasized that the forum reflects Egypt's unwavering commitment to the private sector, which is central to the country's long-term development vision. He highlighted the government's implementation of the State Ownership Policy Document, which clearly defines sectors where the state plans to reduce or withdraw its role—sending a confident signal to both domestic and international investors. This marks a decisive step toward redefining the government's role in the economy and creating more space for private enterprise. Madbouly also pointed to the growing use of Public-Private Partnerships (PPPs) across essential sectors including transportation, renewable energy, education, and water infrastructure, enabling the private sector to help shape Egypt's strategic assets. To facilitate investment further, the "Golden License" initiative was introduced, offering a one-stop approval process by the Cabinet to streamline project setup and reduce red tape. Reflecting on Egypt's development achievements over the last decade, the Prime Minister cited multibillion-dollar infrastructure investments that have transformed the nation's economic landscape. These include massive upgrades to road and rail networks, the modernization of ports and airports, expanded energy capacities, and the development of new logistics and industrial zones. He also spotlighted flagship national projects such as the expansion of the Suez Canal, the creation of 24 new cities, and the launch of the New Administrative Capital, which together lay the groundwork for a forward-looking economy centered on balanced regional growth, economic diversification, and increased global investment.
