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THA adopts PPP policy
The Division of Finance and Enterprise Development of the Tobago House of Assembly (THA) will adopt a public-private partnership (PPP) policy for implementation of projects in its development programme. Joel Jack, Secretary of Finance and Enterprise Development, who made the announcement, said he was part of a team, including Secretary of Settlements and Labour Deon Isaac and economist Carlos Hazel, who took part in a training programme in Managing Social Infrastructure—Public Private Partnership, in Miami in February. Jack said the next step will be the roll-out of a PPP policy framework and the establishment of a unit within the division.
Jack said the policy will address recommendations, including those relating to procurement policies, made by Justice Ronnie Boodoosingh in his judgement in the Milshirv/BOLT case. He said the policy document includes the definition and scope of projects; priority areas in implementation of PPP arrangements; the objectives of the projects, especially in relation to the Comprehensive Development Plan; principles governing agreements; procedures for procurement; management of projects; risk allocation policy; and monitoring and evaluation. Jack said the policy document will outline the parameters under which the PPP model should be employed and set a legal and administrative framework for the model. He said the division will be presenting a policy document to the Executive Council after consultations with stakeholders.