Discuss the features of Public-Private partnership.
The features of Public-Private partnership are:
1. Coordination between public and private sectors:
Every government wants the welfare of the people. But in many cases, it is not possible to allocate the necessary money for public welfare work. On the other hand, private organisations have money, but due to legal complications, they cannot do many welfare works. Coordinating public and private sectors helps in carrying out public welfare works properly. Thus, the salient feature of public-private partnership is the efficient execution of public welfare works.
2. Nature of work:
The nature of work of public-private partnership is mainly rendering service. Generally, the government assigns services to private companies on short-term contracts. At present, in many cases, the responsibility for construction and maintenance of national highways has been transferred to public-private partnerships.
3. Capital and Management:
Public-Private Partnership ventures involve capital from both public and private organisations. However, in some cases, government capital is employed and private companies are in charge of management, or government is in charge of management and private capital is employed.
4. Duration:
Public -Private Partnership (PPP) combined projects generally have a longer duration. However, there are some short-term projects.
5. Public interest projects:
All the projects that take place in public-private partnerships are high priority government projects and are of public interest.
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