Senator Juan Edgardo Angara on Tuesday stressed the need to enhance and modernize the Public-Private Partnerships since the joint ventures should be tapped to the hilt.
He said that the failure to employ the build-operate-transfer-scheme, which has been in existence since the 90s, is visible in airports and rail systems and even in the building of schools and hospitals.
He said that investment requirements had exceeded the capacities of the government and the public sector has enabled private sector to take part in infrastructure development.
For the past two decades, he said a number of services in utilities, transportation, property development and information technology are provided through contractual arrangements such as BOT, and the government has traditionally been in charge of providing and financing infrastructure.
He said his proposed measure, Senate Bill 2672 or the PPP Act provides for liberalized regulations and procedures to better address the needs and concerns of PPP investors.
He said this will hasten infrastructure build-up in the country since the bill seeks to promote and authorize public-private partnerships (PPPs) for the financing, construction, operation and maintenance of infrastructure facilities and services.
He said this will have the country to build on its recent economic gains and to ensure the proper investment environment in our country.
The proposed measure provides for the automatic grant of administrative franchise, license or permit in favor of the winning bidder, subject to the compliance with the requirements of the regulator and payment of appropriate taxes and fees.
It also aims to protect public interest by ensuring fair and reasonable pricing, timely delivery of quality infrastructure, goods and services, and by requiring full public disclosure of all PPP transactions.