Faisalabad Industrial Estate Development and Management Company is a classical example of PPP where the public money is being gainfully managed by the private sector to achieve optimum results. Established in late 2004 under Companies Ordinance Act 1984 on the basis of Public Private Partnership.
The company is managed by a 21 member Board of Directors-16 from private sector and 5 from public sector. The role of public sector directors is more facilitative than monitoring. The private sector directors provide their services without any remuneration on voluntary basis. This eliminates the profit earning aspect of the private sector and puts them under heavy moral obligations for judicious use of public money. They are ever conscious of the confidence vested in them by the public sector and other sections of society