PPP policy aims at transparency

The government came out with a draft policy on public-private partnership,defining PPPs and laying down principles for implementation and monitoring of projects,in a bid to usher in more transparency in such projects.

The government on Tuesday came out with a draft policy on public-private partnership,defining PPPs and laying down principles for implementation and monitoring of projects,in a bid to usher in more transparency in such projects.

The 26-page draft policy,comments on which have been invited by October 15,lays down rules for auctioning natural resources,acquiring land and settling disputes arising in the course of bidding and award of the projects.

As regards land,the policy states that the government will be responsible for providing land for PPP projects and obtaining clearances from relevant authorities. However,it will ensure that the interest of land owners are fully protected.

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This move is in line with the Budget 2011-12 announcement,which stressed upon the need for developing a comprehensive policy that can be used by the Centre and the state governments in further developing Public-Private Partnerships.

For bringing in transparency in PPP projects,the government plans to publish separate mandatory disclosures and fair practices to be followed by each project.

The government will set up a dedicated dispute resolution mechanism to address issued related to bidding and award of PPP projects….it will develop new market-based products,such as independent pre-bid rating,to assist investors in identifying well-structured PPP projects, the draft said.

In cases that provide an implicit ownership or exclusivity right over underlying natural resources,a process of market-based price discovery of such natural resources would be the taken into account while awarding the project.

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The PPP cell in the finance ministry will provide a centre of expertise and technical support to government ministries and other authorities developing PPPs.

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