Sri Lanka Treasury unit to handle public-private partnerships
ECONOMYNEXT – Sri Lanka’s government is to set up a new unit in the Treasury to handle Public-Private Partnerships (PPPs), along with PPP cells in relevant ministries, a spokesman said.
The Public-Private Partnership Division will help implement the government’s priority projects with public private partnerships, according to the proposal approved by the Cabinet of Ministers this week.
The joint proposal was made by Minister of Finance Ravi Karunanayake and Minister of Development Strategies & International Trade Malik Samarawickrama.
The PPP division will hire people with commercial technical expertise, and help deal with a number of solicited and unsolicited proposals on a public-private partnerships basis.
The main aims of the PPP division is to manage project selection and implementation and provide project transaction advice.
PPP cells will be set up in relevant ministries to handle the work and liaise with the PPP Division.
The PPP division’s role is to provide oversight in execution, transparency, good governance, formulation of policies and recommendations to the Cabinet Committee on Economic Management.
(COLOMBO, Jan 12, 2016)