National policy on public private partnership launched
Hon. Fiifi Kwetey the Deputy Minister of Finance and Economic Planning (MoFEP) says his Ministry in collaboration with Department for International Development (DFID) has launched a National Policy on Public Private Partnership (PPP) in Accra.
A PPP is a contractual arrangement between the Public and Private sector Party, with clear agreement on shared objectives to provide public infrastructure and services.
Mr. Kwetey made this known when he launched the policy, pointing out that the private sector can play a bigger role in the country’s infrastructural development and service delivery system, if the economic growth is accelerated to the level it demands.
He adds that the policy also seeks to develop real financial benefits reflected in reduction in the initial public capital outlay, and a better utilization and allocation of public funds, stressing “The country, like other African countries, face a significant infrastructure gap estimated at 1.5 billion dollars, which will demand generating funds from a wide range of sources including PPs”.
He said government’s primary responsibility, is to create an enabling environment for private sector participation to close the country’s infrastructural gap.
Mr. Kwetey said PPs could be best implemented if political and regulatory risk perceptions were taken into account and with the active involvement of stakeholders.