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Effectiveness of Public Private Partnerships Cooperation Between Business and The Government - Essay Example

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This paper talks about the current state of public private partnerships in the economy today. Public-private partnership is defined as a co-relationship between government and the private sector. It refers to the affiliation between public and private sector, in which the former provides services…
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Effectiveness of Public Private Partnerships Cooperation Between Business and The Government
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Effectiveness of Public Private Partnerships Cooperation Between Business and The Government

Download file to see previous pages... In such sort of relationship, there is a co-dependency of both the parties involved. The responsibility of government is of primal importance as it is solely the duty of government to provide the private sector with public services. Hence, governments are making use of such partnerships thereby getting massive financial benefits from public private partnerships. Apart from providing value for money, public private partnerships are also useful for providing newly formulated designs, advanced public services, and an excessively rapid process of construction. Some governments are facing alleged accusations of using public private partnership for political motives. It is a substantial fact that public private partnership function properly under the mutual affinity between the private and public sector thereby making pp services as non-privatized and non-nationalized services. In addition to it, such partnerships offer mutual dependency upon each other, which allows them to attain remarkable results. The core issue related to public private partnership is budgeting for it entirely depends upon the financing of the private group. For instance, if finances and cost of the project are the responsibilities of the private sector, the government does not feel the necessity to take control of matters related to finance. However, when funds are un-available, government feels the need to meet the financial requirement by imposing public taxes. Trans-European Network for transport is proposed to alleviate problems related to financing in public private partnership. This network is constructed to meet the requirements of recession and inflation. As with the descending economical condition of many countries,...
This paper outlines the growing importance of successful cooperation between public and private sector in form of public private partnerships in the world today.
The well designed project not only helps the parties to stay committed to their work but it also offers them a scope of improvement than the previous project, the risk factors are reduced, reliability is higher and the efficiency of the project is also higher. One of the biggest advantage of public private partnership is that in case of any mishap or loss in the project; the expenses are shared by both the parties involved. The risks of bigger losses are minimized. Another significant advantage of these partnerships is achieved by the fact that it is essentially duty of the government to decide the user charges on which a normal person can use the infrastructure.
Due to the current economic recession, the significance of public-private partnership has been increased as now governments are facing grave economical pressure and private-public partnership has become a strong medium to facilitate the building of infrastructure because the investors have been encouraged to invest in the building of infrastructure that may include hospitals, re-creational parks, educational institutions, etc.
Apart from providing value for money, public private partnerships are also useful for providing newly formulated designs, advanced public services, and an excessively rapid process of construction.
There are many forms of public private partnerships depending upon the business and finance controller of the project as sometimes it is solely in control of the public sector or in control of the private sector the other times. ...Download file to see next pagesRead More
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