Cabinet greenlights PPP division

Friday, 13 January 2017 00:00 - - {{hitsCtrl.values.hits}}

New PPP cells to be set up in ministries to liaise with division under Finance Ministry

By Uditha Jayasinghe

Cabinet this week gave approval for a Public Private Partnership (PPP) division to be set up under the Treasury with specially recruited personnel to evaluate investment proposals for key public assets.

The Cabinet paper, which was jointly presented by Finance Minister Ravi Karunanayake and Development Strategies and International Trade Minister Mallik Samarawickrama, sought Cabinet approval to allocate Rs. 75 million from the financial resources already earmarked for the Finance Ministry.

“The proposed structure will initially comprise 17 personnel who will be recruited on a transparent basis and be initially employed for a period of three years with an option for renewal,” the Cabinet paper said. The division will be tasked with managing project selection and implementation and providing project transaction advice.

In addition “PPP cells” will be organised in the relevant ministries to handle the work as well as liaise with the PPP division.

“The primary role of this division to be established under the Ministry of Finance will be to provide oversight in execution, transparency, good governance, formulation of policies and recommendations to the Cabinet Committee on Economic Management (CCEM),” it added.

The CCEM is headed by Prime Minister Ranil Wickremesinghe. The Government has singled out a host of what it has termed as non-strategic sectors for PPPs including the Hyatt and Hilton hotels, Lanka Hospitals and several loss-making public plantation companies. It has also called for an international investor for national carrier SriLankan Airlines.