- Security Chiefs to strengthen surveillance in Kuma...
- GAF reschedules date for recruitment selection pro...
- SADA, NADMO organise disaster risk reduction forum
- Minister declares 24 hour surveillance in galamsey...
- David Lamptey’s family seeks criminal investigat...
- United Nations Foundation launches Sustainable Ene...
- Poultry farmer appeals for government subsidy on a...
- Responding to child abuse is expensive- UN
- Schools in Secondi-Takoradi remained closed
- Government to put cameras on Tema Motorway to chec...
- KNUST to promote market-driven programmes – Prof...
- Food insecurity still rife in Northern Ghana – W...
- Parliament approves GHc 2,560,322.00 for National ...
- Coalition of Concerned Teachers joins strike
- Severe rainstorm hits four communities in Nkoranza...
Category: Government Created on Friday, 20 July 2012 11:39 Published Date Written by GNA Hits: 440
Accra, July 19, GNA – Government is expected to use the Public Private Partnership (PPP) initiative as a tool to mobilize resources for financial purposes and for services delivery at a lower cost.
Mr Paul Victor Obeng, Chairman of the National Development Planning Commission, who made this known at a PPP Sensitisation workshop organised for Economic reporters in Accra on Thursday, added that, the initiative was expected to enhance management capabilities and promote national development.
The workshop was to review the PPP policy document, to chart a roadmap for undertaking the initiative in Ghana, and to present to Government a technical position for its implementation.
Mr Obeng said over the years, governments had been unable to fulfill infrastructural developments due to lack of resources, technology and entrepreneurship.
He gave the assurance that there would be continuity and commitment to roll out the PPP for socio-economic development, adding that, the provision for legislative framework to govern the initiative was “more than a sufficient guarantee.”
Mr Obeng said historical relics such as the James Fort could be developed to serve touristic purposes, were possible projects that could be undertaken by an investor under the PPP arrangement.
PPP is a contractual arrangement between a public entity and a private sector party with clear agreement on shared objectives for the provision of public infrastructure and services traditionally provided by the public sector.
It is to provide a means of leveraging public resources with a private sector resources and expertise in order to close the infrastructure gap and deliver efficient public infrastructure and services.
The PPP policy is expected to encourage and facilitate investment by the private sector by creating an enabling environment for PPPs, where value for money could be clearly demonstrated as well as to increase availability of public infrastructure and services and improve service quality and efficiency of projects.
It is also to encourage and promote indigenous Ghanaian private sector participation in the delivery of public infrastructure and services.
Mrs Magdalene Apenteng, Director of Public Investment Division of the Ministry of Finance and Economic Planning, said currently, Ghana’s infrastructure deficit could require an average sustained spending of at least 1.5 billion dollars per annum over the next decade.
She underscored the importance of the PPP and an expected socio-economic impact of the initiative in the country, stressing “PPP’s therefore have become one of the important tools to facilitate the implementation of the nation’s critical investment programmes.”
Mrs Apenteng expressed optimism that “the PPP law”, which was currently being drafted, would provide the added confidence to both local and international investors.
“To move the process forward, the Government of Ghana, with support of the World Bank and DFID, is undertaking the Ghana PPP project over a five year period to assist in the improvement of the legislative, institutional, financial, fiduciary and technical framework and develop bankable PPP projects,” she said.
Inter-Bank Forex Rates
Click here to see more Last Update: 13th Sep.