Cabinet clears drafting Bill for National Agency Public-Private Partnership

Wednesday, 31 July 2024 00:28 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved instructing the Legal Draftsman to prepare a Bill to establish National Agency for Public-Private Partnership and framework to support the agency’s functions.

The move aims to ensure a robust and efficient public-private partnership mechanism in Sri Lanka.

The National Agency for Public-Private Partnership is set to collaborate with international organisations to create and manage PPP programs and projects.

This initiative aims to identify and implement such programs in cooperation with Government agencies.

To enhance the agency’s effectiveness, the legal validity for such agencies should be given to run the agency more effectively and a legal framework should also be prepared in respect of relevant partnership agreements.

The proposal to this effect presented by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policies Minister was approved by the Cabinet of Ministers.

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