Punjab Chief Minister Maryam Nawaz Sharif on Monday approved the establishment of the Asset Management Authority of Punjab (AMAP) to ensure comprehensive identification, management and optimal utilisation of the province’s assets, aimed at enhancing transparency, governance and revenue generation. The approval was given during a meeting chaired by the chief minister to review the proposed legal framework and governance structure of the authority, according to an official briefing.
Central Institution for Asset Oversight
AMAP would serve as the central institution for the identification, management, transfer, disposal, valuation, payments and marketing of government-owned land and other provincial assets. It would oversee all matters relating to land administration, leasing, sale and commercial utilisation of public assets. The meeting was informed that the authority would prepare a comprehensive digital database of all provincial assets and ensure their regular market valuation.
Key Functions and Powers
The authority will also oversee site selection for asset transfers, formulate development and master plans, and manage the marketing, promotion and transaction design of transferred assets. Officials said government properties with investment and privatisation potential would be identified on a priority basis. Various financing and development models, including leasing, rental arrangements, Public-Private Partnerships (PPP) and Joint Ventures (JV), would be adopted to maximise the value of provincial assets. The authority will also prepare feasibility studies, manage contracts, supervise project implementation, and conduct monitoring and evaluation.
Chief Minister's Directives
Addressing the meeting, Chief Minister Maryam Nawaz directed the authorities to enhance provincial revenue through the sale, leasing and collateral financing of government assets. She observed that effective resource management required a complete and accurate record of all provincial assets. She noted that no single institution previously existed to regulate Punjab’s scattered assets, resulting in the absence of a centralised record, inadequate valuation and inefficient utilisation of government land, which had caused substantial revenue losses. She also pointed out that public land remained vulnerable to illegal encroachments while the recovery of valuable assets often involved lengthy and costly litigation.
Governance Structure
The chief minister said the proposed autonomous authority would ensure comprehensive management, protection and productive utilisation of provincial assets, and appreciated the initiative to establish AMAP. The meeting was informed that the authority would be supervised by a high-powered governing board headed by the Punjab Chief Secretary, while its executive affairs would be managed by a Grade-20 Managing Director. Qualified professionals from the private sector would also be inducted on merit through a competitive selection process. It was further decided that all matters relating to the transfer, valuation and management of provincial assets would remain subject to approval by the provincial cabinet. A detailed governance and approval framework for the authority will be presented before the cabinet committee for final approval.
