what is meant by public private partnership
Answers
Answer:
Public-private partnership (PPP), partnership between an agency of the government and the private sector in the delivery of goods or services to the public. ... In its most basic sense, a partnership is any business or institutional association within which joint activity takes place.
PPP (Public Private Partnership):
▪ PPP is an arrangement between government and private sector for the provision of public assets and/or public services.
▪ In this type of partnership investments being undertaken by the private sector entity, for a
specified period of time.
▪ As PPP involves full retention of responsibility by the government for providing the services it doesn’t amount to privatization.
▪ There is a well defined allocation of risk between the private sector and the public entity.
▪ Private entity is chosen on the basis of open competitive bidding and receives performance linked payments.
▪ PPP route can be alternative in developing countries where governments faced various constraints on borrowing money for important projects.
▪ It can also give required expertise in planning or executing large projects.