ILOILO CITY: The government is hoping that amendments to the existing build-operate-transfer (BOT) law will be passed before the end of the year to set the pace of reforms in the government’s Public-Private Partnership (PPP) initiatives, PPP Center Executive Director Cosette Canilao said.
The PPP Center has asked for the creation of a project development and monitoring facility to be made part of the law so that the hiring of consultancy and transaction advisors and even post-award consultants could be accelerated.
The proposed addition has been marked as one of the priority bills of President Benigno Aquino 3rd, whose term is ending next mid-year.
Speaking at the opening of the two-day meeting of the Asia Pacific Economic Conference (APEC) on Infrastructure and Capital Market Financing July 23-24 in this city, Canilao said the amendments will set the pace for institutionalizing reforms in the government’s PPP initiatives that include the creation of the PPP Center and the PPP Governing Board for the proper governance structure.
The proposed amendments will also introduce the concept of projects of national significance that will be shielded from any adverse local government action if a national government project is located anywhere.
The amendments had been submitted to the House of Representatives and the Senate has scheduled a hearing for next week.
They are aimed at removing current roadblocks not only in bidding out projects but also in implementing the projects after they are awarded, Canilao said.