PUBLIC-PRIVATE PARTNERSHIP
PUBLIC PRIVATE PARTNERSHIP
A Public-private
partnership (PPP) is often defined as a long-term contract between a private
party and a government agency for providing a public asset or service, in which
the private party bears significant risk and management responsibility (World
Bank, 2012).
Collaboration between a
government agency and a private-sector enterprise that can be utilized to fund,
create, and operate projects such as public transit networks, parks, and
convention centers is known as a public-private partnership.
WHY PUBLIC PRIVATE PATNERSHIP:
It entails the public sector and its partners sharing and
transferring risks and gains. Such collaborations aim to plan, finance, and
deliver public-interest policy objectives by combining multi-sectoral and
multi-disciplinary knowledge. PPPs are one of the most successful ways to
expand private sector engagement in public service delivery, increase growth,
and create jobs, all of which contribute to poverty alleviation. PPPs aid in
attracting private capital investment, enhancing efficiency through the private
sector's profit motive, and reforming selected sectors through role and risk
reallocation.
BENIFITS:
Some of the advantages of PPP include
Access to private
sector finance.
Increased efficiency
in the private sector.
The use of funds has
become more transparent.
Procurement is a
time-consuming activity that involves substantial transaction expenses.
Contractual
uncertainty
Monitoring and
enforcement are both important.
SOME OF PUBLIC PRIVATE ORGANISATIONS
ARE
1:
NATIONAL UNIVERSITY OF MODERN LANGUAGES
The National
Institution of Modern Languages is a multi-campus public-private university
having a main campus in Islamabad and satellite campuses around Pakistan.
2:
QUID-E-AZAM UNIVERSITY
The
University attracts a high number of international students due to its
international reputation, professors, and programmer, while admitting a limited
number of students from all parts of the country.
3: NESPAK
National
Engineering Services Pakistan (NES) is a multinational state-owned enterprise
and an energy contractor based in Pakistan that provides global consulting,
construction, engineering, and management services. It is one of Africa's and
Asia's largest engineering consultant management firms.
4: RED CRECENT
In February
1974, the Pakistani Parliament revised the Act of 1920, transforming the Red
Cross into the Red Crescent, and the Sindh Provincial Branch is also governed
by the same Act. The Society is a STATUTORY BODY, not an NGO, as the general
public believes.
5: PIMS
PIMS was
conceived as a leading institution known for its state-of-the-art facilities,
best medical education, and comprehensive personalized care offered under the
Public Private Partnership (PPP) mode by PIMS Society, PIMS Medical and
Education Charitable Society, Department of Medical Education and Research, and
GOP.
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