Islamabad: National Assembly Standing Committee on Finance in its meeting held with Fizullah, MNA in the chair, approved the proposed bill for the establishment of “Federal Government Properties Management Authority” (FGPMA). The Committee was informed that the authority would be responsible for the management and recovery of the government properties spread in the length and breadth of the country. The proposed authority, it was informed, will work under the Finance Minister and would set prices regarding the sale and purchase of the govt properties. The proposed FGPMA would also look into the value of government properties and the possibility of generating income for the national exchequer by attracting private investment where possible. The committee was informed that the federal government is trying to formulate a central system for the management of government properties. The Standing Committee after detailed discussion and with slight amendment recommended that the Federal Government Properties Management Authority Bill may be passed by the National Assembly
Earlier, last year the federal cabinet decided to set up a separate authority in the wake of increasing mismanagement of the government organizations to handle state-owned properties at their disposal. Moreover, it was also reported that increasing the value of the government properties in different locations of the country should be utilized to generate funds. While introducing the proposer FGPMA bill in the National Assembly in September last year the federal government explained in detail the pros and cons of the proposed authority to protect and utilize the vast stretch of state-owned properties in every nook and corner of the country. The statement of the government said that these government properties are managed and operated by Federal Ministries, divisions, and other government organizations and the value of these assets has increased significantly over the years owing to rapid urbanization and ever-expanding commercial activities.
The statement of the objects and reasons of the bill said, “However, most of the government entities have not been able to manage these assets optimally and many of them are beset with multiple problems like encroachment, illegal occupation, etc”. The objects and reasons statement further read that despite several attempts in the past to make optimum use of these govt assets for economic benefits, there was no significant result. The government told that the organizations like Pak Railway had no legal mandate and capacity to utilize these properties for generating funds. Hence, the statement read, there was a dire need to establish a separate entity FGPMA to own, operate, and manage properties of the federal government.