Punjab Asset Management Authority Bill Faces Criticism
The Punjab government has tabled a bill to create the Punjab Asset Management Authority, a central body that would take control of unused public land and buildings, a plan that critics say would weaken local governments and put public property beyond proper oversight.
The Asset Management Authority of Punjab Bill 2026, introduced in the provincial assembly, proposes a body empowered to identify, value, lease, sell and develop public assets through joint ventures and public-private partnerships. Its jurisdiction would extend beyond provincial departments to autonomous bodies, authorities and local governments.
At stake is a simple question: who controls Punjab’s public wealth, and who is accountable when it changes hands?
What the Punjab Asset Management Authority would do
Under the proposed law, the authority would take charge of unused government land and buildings and turn them into revenue-generating assets. It could obtain property records from public institutions and issue directions to them.
The financial arrangement is fixed in the bill. Ninety-eight per cent of net proceeds from asset sales and projects would go into the Punjab Provincial Consolidated Fund, while the authority would retain two per cent for administrative expenses. Its accounts would be audited annually by the Auditor General of Pakistan and a chartered accountant.
Punjab Finance Minister Mian Mujtaba Shujaur Rehman has said the authority is intended to improve the use of public assets, generate extra revenue and direct resources towards development. The bill, however, sets no total value for provincial assets and no revenue target from their commercialisation. Punjab is already chasing revenue elsewhere: 450,000 vehicles have been declared token tax defaulters.
The debate comes as Punjab carries heavy financial obligations. The provincial budget for 2026-27 stands at Rs5,903 billion, including Rs752 billion for development spending, while the government has set a cash surplus target of Rs910 billion.
Critics warn of centralised control
Economist Khalid Rasool warned that the proposed authority would further centralise powers at the provincial level, undermining the autonomy of local governments and public institutions. He argued that local bodies should retain control over their assets and resources to meet the development needs of their own communities.
He also questioned the authority’s bureaucratic makeup, saying the absence of adequate representation from elected representatives, the provincial cabinet and local governments would weaken independent oversight. Its extensive powers to obtain property records and issue directions to public institutions, he added, lacked clear limits and an effective mechanism for appeal.
Rasool further questioned the Chief Minister’s discretion in appointing the managing director, arguing that recruitment should follow an open, merit-based process.
He pointed to Punjab’s experience with more than 50 management companies set up during Shehbaz Sharif’s tenure, warning that shifting responsibilities and resources to another centralised body could invite similar allegations of favouritism, nepotism and corruption.
“Strengthening existing departments and devolving powers to local governments would be a more sustainable approach,” Rasool said.
The concern over local autonomy is not new. The PPP in Punjab has demanded devolution to local governments, and the Centre has spent Rs5 trillion on devolved subjects while local bodies wait for powers and funds.
Rights and transparency fears
Advocate Azhar Siddique also warned that the proposed legislation could threaten fundamental rights, public ownership and accountability by allowing the authority to take control of properties belonging to local governments and autonomous institutions without adequate consent.
He raised concerns under Articles 4, 9, 10A, 23, 24, 25 and 140A of the Constitution, arguing that provisions affecting forests, wildlife sanctuaries, parks and Waqf properties could undermine existing legal protections.
He also criticised Section 40 of the bill, which requires the authority’s prior approval before legal proceedings can be started against its officials, saying it could weaken independent accountability.
Siddique further questioned whether provisions for direct contracting, unsolicited investment proposals and concessions would ensure transparent transactions. He warned that sweeping eviction powers and restrictions on judicial intervention could also compromise citizens’ rights and access to justice.
The transparency questions echo other asset debates in the country. A parliamentary committee found Rs624 billion in power distribution assets untagged ahead of privatisation, a reminder that selling public assets without clear records invites trouble.
What happens next
The bill is now before the provincial assembly, where its supporters will argue that idle public property should earn money for development. Its critics will argue that revenue is only half the question.
Whether the authority succeeds will turn on more than the money it raises. It will turn on who controls these assets, and who can hold the authority to account.
Frequently asked questions
What does the Punjab Asset Management Authority Bill propose?
It proposes a central body to identify, value, lease, sell and develop unused government land and buildings through joint ventures and public-private partnerships.
Where would the money from asset sales go?
Ninety-eight per cent of net proceeds would go to the Punjab Provincial Consolidated Fund, with two per cent retained by the authority for administration.
Why are critics opposing the bill?
They warn it would centralise power, weaken local government autonomy, limit oversight and threaten fundamental rights and public ownership.
Who would audit the authority?
Its accounts would be audited annually by the Auditor General of Pakistan and a chartered accountant.
