Cabinet body okays provision for ‘unsolicited PPP proposal’

Cabinet Economic Affair Committee on Sunday gave its approval in principle to a new provision for entertaining unsolicited offer from the private sector to implement different projects under public-private partnership (PPP). A meeting of the committee, with Finance Minister AMA Muhith in the chair, gave its nod to the proposal placed by the Prime Minister's Office (PMO) for introducing the new provision on PPP projects. The PPP Office, under the PMO, prepared the proposal titled ‘The Procedure for Implementation of PPP Policy and Strategy for Unsolicited Proposals 2014’. The proposed new provision includes two systems -- Bonus System and Swiss Challenge System -- for entertaining private party’s unsolicited offer for PPP projects, according to a news agency.