"PPP" means a partnership between the public sector represented by a Government Agency and a private party for the provision of an infrastructure facility or service with a clear allocation of risks between the parties.
Why is PPP needed in Punjab?
There is a close correlation between infrastructure spending and economic growth. If infrastructure investments are not kept at the required level of at least 6% of gross domestic product, economic growth becomes constrained by power shortages, traffic congestion, high transport costs, and other infrastructure bottlenecks.
Who is the competent authority to approve/reject projects in PPP mode?
PPP Steering Committee, established by the Government of the Punjab through notification, is the competent authority to approve, reject or send back for reconsideration the PPP project proposals submitted by Government Agencies.
What is PPP Cell?
PPP Cell has been established in the Planning and Development Department to promote and facilitate PPP development in the Province, assist a Government Agency in preparing and Executing high-quality projects, and act as a PPP catalyst and advocate, knowledge manager, and policy and project advisor.
Public-Private Partnership (PPP) is one of the most effective vehicle to enhance private sector participation in public services delivery, increase growth, and create jobs leading to reduction of poverty. The PPPs help in attracting private capital investment, increasing efficiency through the profit motivation of the private sector, and helping reform the selected sectors through the reallocation of roles and risks.