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Bharath: Govt will use partnership system to deliver
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.”