The federal government has passed the summary for a new ministry under the name of Federal Government Properties Management Authority (FGPMA) that will be responsible to overlook the government-owned assets and properties.
According to sources in the Ministry of Planning Development and Special Initiatives, the properties owned by the government are currently under the control of different divisions of the federal ministries. However, most of the government entities have failed to manage these assets efficiently which is why a new ministry specifically for this purpose has been proposed.
Managing these assets is a task in itself and there have been numerous reports of illegal occupation, encroachments, etc. in the past and many attempts of generating profit from these assets have been made through leases, public-private partnership, privatization but most of them have been unsuccessful.
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The source also added that none of the existing government organizations had the capacity or the mandate to work on these assets to make valuable returns for the economy. Hence there was a dire need for an organization that was solely dedicated for this task.
The federal government had proposed this idea in front of the cabinet on the direction of the Ministry of Planning, Development and Special Initiatives to place the summary for the said organization on April 13th 2021.
Federal Government property management authority has been approved by the cabinet for the better utilisation of federal Gov&its institutions’ owned lands across the country, through this decision Gov will able to tap potential revenue.
— Faraz Chaudhry (@Faraz999) July 6, 2021
However, in order to avoid confusion with another department under FATF, the name was later changed to Federal Government Properties Management Authority’ (FGPMA).
In the proposal, FGPMA will have the legal powers and authority to develop assets that will be transferred to it through sale, lease, etc. FGPMA will also be responsible for ensuring the best value for money for the government assets.
The authority will also regularly update the federal government after coming up with business plans for the properties.
Several federal ministries are working together to form the draft of this organization. The draft law has been evaluated by the Ministry of Law and Justice. Similarly, consultations have been sought with the Finance department and the Ministry of Housing & Works and Establishment Division.
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The proposal has been approved and will be ready for action after the necessary legislations have been completed.