Gov­ern­ment will use the pri­vate pub­lic part­ner­ship sys­tem to de­liv­er crit­i­cal in­fra­struc­ture and oth­er high pri­or­i­ty projects in a more ef­fec­tive, ef­fi­cient and trans­par­ent man­ner, Vas­ant Bharath, Min­is­ter of Trade, In­dus­try, In­vest­ment and Com­mu­ni­ca­tions and Min­is­ter in the Min­istry of Fi­nance and the Econ­o­my said yes­ter­day.

The min­is­ter de­liv­ered the fea­ture ad­dress at CIBC First­Caribbean's 2014 Caribbean In­fra­struc­ture Con­fer­ence at the Hy­att Re­gency Ho­tel in Port-of-Spain. Speak­ing to a di­verse au­di­ence of gov­ern­ment of­fi­cials, in­vestors, bank­ing, en­gi­neer­ing and le­gal pro­fes­sion­als, con­trac­tors and de­vel­op­ers, Bharath said pub­lic-pri­vate part­ner­ships com­bine the best of both worlds–the pri­vate sec­tor's re­sources, man­age­ment skills and tech­nol­o­gy; and the pub­lic sec­tor's reg­u­la­to­ry ac­tions and pro­tec­tion of the pub­lic in­ter­est.

He added, how­ev­er, that "to work well as a bal­anced frame­work, PPPs re­quire well-func­tion­ing in­sti­tu­tions, trans­par­ent, ef­fi­cient pro­ce­dures and ac­count­able and com­pe­tent pub­lic and pri­vate sec­tors, that is, good gov­er­nance."