Kathmandu, October 23:

Prof Dr Pyakurel says process involves large fiscal risks.

Addressing the National Symposium on PPP here today, Professor Dr Bishwambher Pyakurel said a regulatory authority was needed for the effective implementation of Public-Private Partnetship (PPP).

“Overall, there is a need for a regulatory body. Financial risk is present in PPP, so there must be an overall diagnostic approach to it. Earlier constraints must be diagnosed this time and policy initiatives monitored every now and then,” he said.

Talking about the effectiveness of PPP in the infrastructure development of Nepal, Minister of Physical Planning and works (MoPPW) Bijay Gachhadar said, “PPP has been introduced in the global context and this should be taken forward. Both the public and private sectors are experts in their own fields and now it’s time to work in tandem to bridge all the gaps between the public and private sectors.”

Gachhadar added, “There has been a gap between the two sectors. Therefore, unless the gap is bridged PPP cannot succeed. There also must be mutual trust.”

Secretary to the MoPPW Purna K Kadaria said, “The main responsibility of the ministry is to increase the access of the common people to infrastructure like road transport, water supply, buildings and housing and to replace the centralized and feudal state structure with a new federal state structure.”

He added that the time had come for Nepali infrastructure development to be competitive in terms of cost and time because the country has already joined WTO.

According to Kadaria, the government is willing to partner the private sector in achieving national targets and providing convenience and facilities to the general public as well as creating an enabling environment for overall growth of economy through development

of tourism, industry, trade, agriculture.

Today was the second and final day of the symposium and the participants held discussions on education, agriculture, infrastructure and health.

The Ministry of Local Development, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and UNDP, jointly organized the two-day syposium.

The chief objective of the symposium was to orchestrate detailed discussions among six Ministries on the importance of PPP and its application in six vital sectors — Tourism, Infrastructure Development, Education, Health, Local Development, Education and Agriculture.