The Public Private Partnership Authority (Amendment) Act, 2021
The Public Private Partnership Authority (Amendment) Act, 2021 was enacted to create an enabling environment for public private partnership by streamlining the project approval process and providing an effective framework for policy guidelines. The main purpose of the act is to encourage participation of the private sector in the development projects and in the provision of public infrastructure and related services in Pakistan. The Public Private Partnership Authority (Amendment) Act, 2021 amends some parts of the Public Private Partnership Authority Act, 2017 including the preamble, various sections in the chapters related to institutional framework, fund, viability gap fund and project development facility and legal and contractual framework. Some parts are added to the Act relating to risk management unit and public private partnership working party. According to this act, the Public Private Partnership Authority shall establish a Project Development Facility, administered by the Authority. The Project Development Facility shall act as a pool of funds, including contributions from international donor agencies, to support the preparation of any proposals for qualified projects.
There shall be established a Risk Management Unit, under the Public Private Partnership (Amendment) Act, 2021, which shall be controlled, managed and administered by the Finance Division and shall be responsible for fiscal oversight and for evaluation of fiscal and contingent liability exposure for all qualified projects.
