Unlike most other countries, Sri Lanka has underplayed the potential of public-private partnerships (PPPs) and is slow in engaging in them, said international PPP expert, David Baxter.
He said that while Sri Lanka has PPP projects totalling US$ 6 billion for nearly 20 years, India engages and executes PPP projects to the value of over US$ 42 billion annually.
He was speaking at a workshop by USAID Short-Term Assistance to Improve Public Financial Management Reform (STAIR) Project in collaboration with the Department of Public Finance of the Ministry of Finance.
The workshop was conducted to discuss the finalization of the draft public-private partnership guidelines after receiving comments from various government institutes. The event was attended by officials from 57 line ministries.
This final draft is the fourth draft of the PPP Guidelines that has been collaboratively developed between USAID and stakeholders from the Sri Lankan government during 2016-17. The document has also been shared with the World Bank and other development partners for input and comments on proposed PPP best practices.
The drafters of the document have referenced existing PPP and procurement related legislation to ensure that this document is harmonized with the laws of Sri Lanka.
He said that PPP projects if executed with transparency can be very successful and their benefits would trickle down to the
masses as well.
“The private sector too should be keen in engaging in them,” he said.
Baxter said that PPP is like a marriage and if properly engaged it is for a lifetime. “Also when the stipulated period is over the project comes back to the government,” he emphasized.
Director General of Department of Public Finance, P Algama said that the Revised PPP Guidelines clearly outlined the PPP Project Management Cycle and the procedures and roles of institutions were included for each phase of the PPP Project Management Cycle. The guidelines will serve as the basis for new PPP legislation that will be drafted by the Government of Sri Lanka. (SS)
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