CM Maryam Nawaz Approves AMAP to Centralize Asset Management
Punjab Chief Minister Maryam Nawaz has approved the establishment of the Asset Management Authority of Punjab (AMAP) to centralize the management of the province's land and public assets, aiming to improve governance, transparency and revenue generation. The decision was taken during a meeting chaired by the chief minister to review the proposed legal framework and institutional structure for the new authority.
AMAP to Handle Identification, Valuation, and Disposal of Assets
During the briefing, officials informed the meeting that AMAP will be responsible for the identification, management, transfer, valuation, marketing and disposal of provincial assets. All matters related to government land, from its control and management to leasing or sale, will be handled by the new authority under a unified system.
Maryam Nawaz Highlights Need for Centralized Asset Record
Maryam Nawaz said effective resource management requires the government to have a complete record of all assets owned by the province. She noted that Punjab's assets are currently scattered across various departments without a centralized database, leading to inefficient management and loss of potential revenue. Officials also highlighted that the absence of regular asset valuation and the underutilization of government land have caused financial losses, while illegal encroachments on public land have resulted in costly legal disputes to recover valuable properties.
Proposed Framework Includes Database and Market Valuation
According to the proposed framework, AMAP will prepare a comprehensive database of provincial assets and ensure their regular market valuation. The authority will also be responsible for selecting sites for asset transfers, preparing development and master plans, and designing and approving transaction structures for the marketing and transfer of public assets.
AMAP to Prioritize Investment and Privatization
The authority will identify government assets suitable for investment and privatization on a priority basis, using mechanisms such as leases, rentals, public-private partnerships (PPP) and joint ventures (JV). It will also oversee feasibility studies, contract management, project implementation, monitoring and evaluation. The chief minister directed officials to enhance provincial revenue through the sale, leasing and collateral financing of government assets while ensuring transparency and efficiency.
Revenue Distribution: 98% to Treasury, 2% for Operations
The meeting was informed that 98 percent of the net income generated from projects managed by AMAP will be deposited directly into the provincial treasury, while 2 percent will be retained by the authority to meet operational expenses and employees' salaries. A dedicated AMAP Fund will also be established to ensure transparent financial management.
Governance Structure: 11-Member Board Led by Chief Secretary
Officials further briefed the meeting that the authority will be governed by an 11-member board headed by the Punjab chief secretary, while a Grade-20 Managing Director will oversee its administrative affairs. The board will also include private-sector human resource experts selected through a merit-based competitive process.
Maryam Nawaz Directs Early Legislation for AMAP
Maryam Nawaz appreciated the proposal for establishing the Asset Management Authority and directed that legislation for its creation be introduced at the earliest. She was also presented with the authority's governance model, approval structure and complete operational process flow.
Asset Transfers Subject to Cabinet Approval
The meeting decided that all matters relating to asset transfers, valuation and management will remain subject to the approval of the provincial cabinet, while the proposed governance framework will be submitted to the cabinet committee for final approval.
