The cabinet approved, in principle, the draft of "The Bangladesh Public-Private Partnership (PPP) (amendment) Law, 2019" on Monday keeping a provision of undertaking and implementing the G2G (government to government) projects in the existing act, reports BSS.
The approval came at the weekly cabinet meeting held at Bangladesh Secretariat in the city on Monday afternoon, with Prime Minister Sheikh Hasina in the chair.
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 living standard of the people and expediting the country's socioeconomic progress as well as building infrastructures.
"Under the existing law there is 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," the cabinet secretary said.
He said memorandums/cooperation 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)" and other counties have also shown their interest to undertake schemes in this process.
"Against this backdrop, the sub-sections 2 (6 Ka), 13 (3) and 13 (4) have been incorporated in the Section 8 of the proposed law for inclusion of the issue of undertaking and implementation of the G2G projects," Islam said.
The cabinet secretary said the proposed law has also kept a provision of holding one meeting of the Board of Governors instead of six a year.
The proposal has been made as arrangement of six meetings in a year is time consuming and it is not possible for the members, including the chairman of the Board of Governors, he said.
Mr Islam said the executive board of the authority was formed in the maiden meeting of Board of Governors of the PPP Authority. In the proposed law, the issues related to the size of the board, its responsibilities and meetings have been included, he said.
