Public Private Partnership Bill tabled

A Bill, titled 'Public-Private-Partnership Bill, 2015' was placed in the House on Sunday aiming to accelerate the country's economic development, reports UNB.

Agriculture Minister Matia Chowdhury, also in-charge of the Prime Minister's Office in parliament, placed the Bill.

The Bill was sent to the parliamentary standing committee for further scrutiny. The committee was asked to submit its report within two weeks.

According to the Bill, there will be a 'Public Private Partnership Advisory Council' and a 'Cabinet Committee'.

The proposed law defined the various terms and conditions, including the process of determining private partners, cancellation and extension of the agreements and negotiation process and scope for accepting unsolicited proposals.

The government will enjoy extra advantage in case of cancelling the agreements of PPP projects while disputes would be resolved through arbitration law.

The objective of the Bill states that the Policy and Strategy for Public Private Partnership (PPP), 2010 was formulated to accelerate the economic development of the country. At present, some 42 projects of various sectors are being implemented under the PPP.