Write short notes on the followings below
Public Private Partnership is a win-win relationship between the government and various private sector players for the purpose of delivering a service by sharing the risk and rewards of the venture under a contractual obligation. This projects normally cover public good provisions characterised by indivisibility and non-excludability, natural monopoly characterised by declining marginal cost, and lumpy investment characterised by long gestation period. Bangladesh has been facing many development challenges independence in 1971. To overcome some of there challenges, the country requires significant investment in energy, transport and water supply infrastructure and several other sectors. In mid-2009, a policy encouraging public-private collaboration was included by the government of Bangladesh, but it lacked clear guidelines on how to put the government's intentions into practice. The government has agreed to address the limitations of the initiative taken in 2009. The PPP policy is usually administered under the Prime Minister's office, indicating high level support for its effective implementation. The PPP policy and strategy was published in August 2010. However, much more investment is required in these sectors and several other priority sectors in order to accommodate economic growth. These priority sectors include ports, roads, railway supply, waste management, tourism, e-service delivery etc. According to the policy and strategy for PPP, 2010, of the government, public-private partnership models can be considered for any project that generates public good and services is at least one of the following circumstance exist for the project. The implementation of the project is difficult with the financial resources or expertise of the government alone; Private investment would increase the quality or level of service or reduce the time implement compared to what the government could accomplish on its own. There is an opportunity for competition, where possible, among prospective private investors, which may reduce the cost of providing a public service
Private investment in public innovation and there are no regulatory or legislative restrictions on private investment in the delivery of the public service. However, for successful implementation of PPP projects, political support is critical. There is no unique model or mechansim of implementing Ppp explore collaborative modalities and partnership based approaches best suited to specific contexts.
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Are you sure to start over?