IPDF, PTDC sign agreement for Corporate Complex
Staff Report

ISLAMABAD—The Infrastructure Project Development Facility (IPDF) has signed an agreement with Pakistan Tourism Development Corporation (PTDC) for provision of technical assistance in the construction of a Corporate Complex in Islamabad. The Complex would be built under the Public Private Partnership (PPP) mechanism.
PTDC intends to develop a Corporate Complex on an area measuring 7544.44 square yards in Sector F-5/1, Islamabad. In addition to housing PTDC's head office, the complex will house other corporate offices, auditorium, audio/visual center, tourism facilitation center, and additional office floor space.
An agreement to this effect was signed by IPDF Chief Executive Officer Aijaz Ahmad and PTDC Managing Director Salman Javed in the presence of senior officials from both sides.
Under the agreement, IPDF would provide technical support to PTDC including provision of qualified advisory firms to assist PTDC in structuring the development of the Corporate Complex. The advisory team, comprising financial, legal and technical experts, will help PTDC in structuring the best option to implement the Project.
The construction of PTDC's Corporate Complex is part of business plan drawn to make PTDC self-sufficient, Insha Allah, within next 2 years said Mr. Salman Javed, Managing Director, Pakistan Tourism Development Corporation, after signing the agreement. He further said that very soon other similar projects would also be coming up as part of strategic developmental plan where in other PTDC assets are also planned to be developed into Tourism Complexes such as Motels, Beach Resorts, Spas, etc. under the PPP modality.
The PPP mechanism will ensure a professional and fast track approach implementation to PTDC'S developmental strategy. IPDF CEO Aijaz Ahmad commented after the signing ceremony.
"PTDC is marking the ongoing year with the title of "Visit Pakistan" and today's agreement would help us in promoting tourism activities in the country through structuring the best option," remarked MD PTDC.
IPDF has been recently established under the aegis of Ministry of Finance and Economic Affairs to facilitate development of infrastructure projects under the PPP modality.