• Tuesday, Dec 10, 2019
  • Last Update : 06:38 pm

Cabinet okays PPP (amendment) Law, 2019 draft

  • Published at 05:11 pm November 11th, 2019
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Prime Minister Sheikh Hasina addresses cabinet meeting at the Bangladesh Secretariat on Monday, November 11, 2019 PID

The approval came keeping a provision for G2G projects in the existing act

The Cabinet has approved in principle the draft of “The Bangladesh Public-Private Partnership (PPP) (amendment) Law, 2019” keeping a provision of undertaking and implementing the G2G (government to government) projects in the existing act.

The approval came from the weekly cabinet meeting held at Bangladesh Secretariat Monday afternoon with Prime Minister Sheikh Hasina in the chair, reports BSS.

After the meeting, Cabinet Secretary Khandker Anwarul Islam briefed reporters.

He said: “The Bangladesh Public-Private Partnership (PPP) Act, 2015 was framed to create a partnership with private sector by attracting local and foreign investment aimed at improving the living standard of the people and expediting Bangladesh’s socioeconomic progress as well as building infrastructures.

“Under the existing law, there was no provision about the G2G schemes. But after the introduction of the PPP Act, 2015 the government took initiatives for execution of the PPP projects (G2G PPP) with various countries."

He said memorandums and/or co-operation of understanding have already been signed with Japan, Singapore, South Korea, and Dubai under the “Policy for Implementing PPP Projects through Government to Government (G2G),” with other counties also showing interest in undertaking schemes in this process.

“Against this backdrop, the sub-sections 2 (6 Ka), 13 (3) and 13 (4) have been incorporated in Section 8 of the proposed law for inclusion of the issue of undertaking and implementation of the G2G projects,” Cabinet Secretary Khandker Anwarul said.