Punjab sets up new authority to manage state-owned assets

LAHORE: The Punjab government has set up a new Asset Management Authority to consolidate the control, leasing, and sale of all state-owned land and properties.

Chairing a meeting in this regard, Punjab Chief Minister Maryam Nawaz said that the move aims to bring all provincial assets under a unified regulatory framework, rectifying a fragmented system where property records were previously scattered across various independent government departments.

“For effective resource management, we must have clear visibility over every single asset owned by the province,” she said during the meeting to review the authority’s proposed legal structure.

Under the new framework, all matters relating to the management, leasing, and disposal of government land will be streamlined through this single entity.

Officials stated that 80 per cent of the net revenue generated from projects managed by the authority will be deposited directly into the provincial treasury, plugging financial loopholes and curbing revenue losses.

The newly formed authority will be governed by an 11-member high-powered board chaired by the Punjab chief secretary. A Grade-20 civil servant will be appointed as managing director to oversee daily administrative and operational affairs.

Separately, Maryam Nawaz reiterated her government’s commitment to rural development, highlighting ongoing investments in education, healthcare, and sustainable livelihoods for rural populations.

“Investing in rural communities means investing in the foundations of more resilient societies,” Sharif said, noting that the provincial government is extending its electric bus transit network to rural areas for the first time, alongside the execution of the “Suthra Punjab” sanitation initiative across villages.