NPP’s new model to resurrect failed SOEs
In a new move to resurrect the loss-making state-owned enterprises (SOEs), the new government is proposing a public-private Peoples Partnership (P4).
This emphasises the importance of incorporating community input and engagement into the processes in making the state-owned enterprises profitable, National People’s Power (NPP) politburo member Sunil Handunnetti told The Sunday Times Business on Thursday. “This system can provide the missing connection in traditional PPPs to strengthen the partnership further and achieve effective and integrated partnerships between multiple sectors.” He added that this was discussed initially at the NPP party level. He noted that the new government is exploring this model for SriLankan Airlines. “After finalising the modalities of P4, we intend to apply it to other state-owned enterprises as well,” he added.
The P4 model combines the “people” segment with a traditional Public-Private Partnership (PPP). Mr. Handunnetti added that P4 is proposed to compensate for the shortcomings in conventional PPPs regarding a lack of people’s participation and incorporation of bottom-up strategies.
Such a strategy can help improve the development process by moderating the risk of unforeseen opposition, building clear responsibilities and rights, and creating opportunities for public input, he added. “While (PPPs) are often lauded for their potential to deliver net benefits—such as improved infrastructure, efficiency etc. they don’t properly involve external stakeholders, which is the people, which can lead to mistrust, opposition etc.” It is anticipated that formulating such an effective and genuine public engagement framework for PPP projects would assist government bodies, he added.
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