Group dynamics important in PPPs
View(s):By Duruthu Edirimuni Chandrasekera
Among myths revolving around public-private partnerships, is the notion that borrowing from donors is cheaper to build which ranked the highest, according to an expert.
This was discussed at the annual CFA Society Sri Lanka Capital Market Awards recognising and rewarding excellence in the local capital markets on Tuesday under the theme of ‘The Power of Public-Private Partnerships,’ focusing on the current status of public-private partnerships (PPPs) in Sri Lanka and their future potential. A panel discussion took place in the form of a knowledge-sharing session on how PPPs can help the country arise from its economic crisis while raising awareness on how CFA charter holders’ skills were crucial to executing them. Chanaka De Silva, Presidents Council and Partner Nithya Partners; Kaushal Kumar Singh, Partner, Deloitte India and Thilan Wijesinghe, Chairman and CEO TWCorp. comprised the panel.
That the private sector takes away all profits and it’s always better for the government sector to do the project as there is a sovereign guarantee is the third myth, Mr. Wijesinghe said. He highlighted the importance of group dynamics in executing PPPs. “When these dynamics don’t happen, it gives a bad deal for the government,” he said The Public Finance Management Act is really good, looking at all the private investments, creating a centralised evaluation, and instilling discipline.
Mr. De Silva noted that the law for PPPs is robust. Citing SAGT privatisation as an example, he said that it’s not the law that is the problem, but the way it is managed. Mr. Singh highlighted the importance of identifying the proper projects for privatisation. He also noted the time-consuming nature of cost-benefit analysis in negotiations.
Asia Securities (Pvt) Ltd was awarded Gold for the Best Stockbroking Research Team. Sunshine Holdings PLC won Gold for Best Investor Relations, and Senfin Money Market Fund won the Best Unit Trust Fund. The Gold for the Best Sector Research Report went to Prakatheesh Nareshkumar of Asia Securities (Pvt) Ltd.
The Gold award for the Best Equity Research report went to Kuga Prasath Thilagaratnam and Sanjana Kanilka of CT CLSA Securities (Pvt) Ltd.
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