The government may issue the Public-Private Partnership Regulations 2020 to ensure competition and transparency in the granting of large projects.
The source said that the Ministry of Planning, Development and Special Initiatives, through a summary, has requested the Federal Cabinet to approve the proposed Regulations on Public-Private Partnerships 2020.
In the summary, the Planning Department stated to the Cabinet that it is necessary to create a favorable environment for public-private partnership by simplifying the project approval process and providing an effective policy guidance framework.
The source said that the draft legislation-the 2020 Public Partnership Act has been approved by the Cabinet Committee on Dealing with Legislative Cases (CCLC), adding that the Cabinet considered the case at the meeting on April 28, 2020 and approved the CCLC’s Suggest.
The source said that the bill has been submitted for consideration as a draft decree.
As we all know, public-private cooperation can effectively use the expertise and efficiency of the private sector to improve the service level of the public sector.
In the past, the Infrastructure Project Development Fund (IPDF) was established in 2006 under the Companies Regulations 1984 (was repealed by the 2017 Company Law) to strengthen Pakistan’s public partnership. Later, the PPP authorization was established in accordance with the provisions of the PPP Authorization Act (No. VII of 2017), so the assets and liabilities of IPDF have been transferred to the authorization.