Engineering Post Report
Public Private partnership Authority (P3A) , as already reported on these pages couple of months back, was notified by the Federal Government in June 2018 under the provisions of the P3A Act 2017 (as amended). P3A was a fully functional authority spearheading the Federal Government initiative for promoting the public private partnership apparently involving the private sector and reducing the public sector financial burden for un undertaking developmental activities in different sectors all over the country to the maximum possible.
Official sources on being contacted have maintained that it was prudent to point out that the P3A projects were technically , financially and legally complex projects requiring detailed studies, discussions, defining and finalizing the financial and legal transaction structuring, preparation of bidding packages and tentative P3 agreements. As such, under the normal circumstances, a given P3 infrastructure project required a minimum of one year before it was ready to undergo the regulatory approval process under P3A Act , rules and regulations made therein.
The sources pointedly maintained that the projects under the P3 mode were highly sensitive projects which required sound, reliable, bankable and quality-oriented feasibility studies for enhancing the trust and confidence of the private sector investors for taking informal investment decisions to implement the same. Towards this end, P3A will be providing Project development facility for such P3 projects which were considered eligible under the Project Development Facility Regulations 2022.
P3A has also prepared a pipeline of infrastructure projects along their implementing agencies which were likely to be undertaken or already at various stages of consideration during the current financial year.
