Pune Smart City Development Corporation Limited

Pune Municipal Corporation has finalised the name for the Special Purpose Vehicle (SPV) company for the smart city mission. The civic administration has settled on naming the body, Pune Smart City Development Corporation Limited (PSCDCL). The registration procedure has reached its final stage under the Companies Act and will be completed on Wednesday.
PMC's deputy commissioner, Anil Pawar, said, “After discussions with all the party leaders, PMC has decided the SPV's name and it will be official on Wednesday. Following which, we will send a proposal to the state and central governments for funds under the smart city initiative.“
He added, “We are going to appoint the chief executive officer (CEO) for the company after the formation of SPV is complete and have requested the Centre to nominate other directors for it.“ The Centre has already declared that the selected cities will get funds after the initial process of formation is complete. PMC will get nearly Rs.194 crore from the Union government and Rs.98 crore from the state.
At present, PMC has decided to set up their office in the main building but, they are looking for space elsewhere. SPV -the executing agency of the projects under the smart cities mission -has come under the control of elected representatives due to their demand. Out of 15 members, eight will be incorporated in SPV. The 15 members comprise the mayor, two members of political parties other than the ruling and opposition parties according to their strength in the House, the PMC commissioner, standing committee chairman, opposition party leader, House leader, divisional commissioner, Pune police commissioner, Pune Mahanagar Parivahan Mahamandal Limited's (PMPML) chief executive officer and three members nominated by the Centre.

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