Public - Private Partnership Act 2010 Promulgated

The Punjab government has promulgated the Public-Private Partnership for Infrastructure Act, 2010, so as to meet the requirement of infrastructure investment through a public-private partnership mechanism.

A press release issued on Monday says the better coverage of services in power and water supply, solid waste management, sewerage treatment, transport and logistics, health and education are vital for Punjab's economy and the livelihood of its people.

The press release says that public private partnership has been recognised worldwide as an essential mode of public service delivery, attracting private capital investment through active participation. It said the government under Punjab resource management programme had developed the Act to provide a regulatory framework to undertake projects.

A public-private partnership unit has also been established in the planning and development department to gear up the related activities. A risk management unit is also being established in the finance department to oversee and assess the risks involved in the public private partnership transactions. The Punjab Assembly passed the Act on July 12, 2010, under which the government would be able to secure private capital for public service deliveries, leading towards making the economic condition of the province better, the press release added.

DAWN  I LAHORE I Tue, Aug 31, 2010 I