Authority activated for the recovery of Federal Properties:

Authority activated for the recovery of Federal Properties:

Authority activated for the recovery of Federal Properties:

Islamabad: The government of Pakistan is putting in efforts to help functionalize the FGPMA which would be tasked with the recovery of federal government properties.

 The government is trying to functionalize the FGMPA at the earliest notice and it is said that it will be tasked with recovering prime federal government properties all over the country and eventually ensuring the disposal in order to generate funds.

An ordinance was also introduced this August under a cabinet decision in the month of July to set up the FGPMA in order to deal with the properties of the federal government, the Federal Ministries, and the allied departments that are located all over the country for their better utilization.

A bill has been introduced that will take care of providing permanent legal cover to the authority and this bill has been submitted in the national assembly and is pending clearance by the National Assembly’s standing committee on Finance and Revenue.

Shaukat Tareen, advisor to the Prime Minister on Finance and Revenue held a meeting to establish the FGPMA which was also attended by senator Aon Abbas Buppi. It was also informed during the meeting that the official notification for the establishment of the FGPMA had been issued.

However, Mr. Tarin noted that the notification alone would not be enough and it was directed to make the entity fully functional at the earliest for the best use of the government’s assets. He also instructed the relevant officials to complete the codal modalities as soon as possible.

In July the Cabinet had approved the Formation of FGPMA so as to dispose the federal government’s properties that were worth trillions of rupees that were currently under encroachment or not in any use.

While introducing a bill in the national assembly for the setting up of FGPMA in September, the government has made it clear that the government-owned vast track of urban and rural properties throughout the length and breadth of the country. 

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