CM Maryam approves new Punjab authority to manage state assets

LAHORE: Chief Minister Maryam Nawaz has approved the creation of the Asset Management Authority of Punjab (AMAP), a new body intended to identify, manage and utilise provincial assets with the stated aim of improving transparency, governance and revenue generation.

The decision was taken at a meeting chaired by the chief minister on Monday. According to the briefing given in the meeting, the authority will handle the identification, management, transfer, disposal, payments and marketing of provincial assets. It is also meant to function as a central institution for the management of government-owned land and other public property, covering matters ranging from land administration to leasing and sale.

The meeting was told that government properties with investment and privatisation potential would be identified on a priority basis. Different financing and development options, including leasing, rental arrangements, public-private partnerships and joint ventures, will be used to maximise the value of provincial assets.

Maryam Nawaz directed officials to improve revenue generation through the sale, lease and collateral financing of provincial assets. She said there had previously been no single institution to regulate Punjab’s scattered assets and noted that public land had remained exposed to illegal encroachments. She said one autonomous institution would now be responsible for the overall management and protection of provincial assets and appreciated the proposal to establish the authority.

Structure and approvals

The meeting was informed that the new authority will operate under a governing board headed by the chief secretary. Its day-to-day operations will be led by a BPS-20 managing director, while qualified professionals from the private sector will also be inducted on merit.

It was also decided that all matters related to the transfer, valuation and management of assets would require approval from the provincial cabinet.

The move places land administration, leasing, sale and other asset-related functions under a single institutional framework as the Punjab government seeks to consolidate oversight of public property and expand returns from state-owned assets.