Dominguez says there’s no turning back with hybrid PPP in full swing
They have definitely learned from the mistakes of the past.
Life is too short to give second chances, so Finance Secretary Carlos Dominguez III is throwing out the traditional Public-Private Partnership (PPP) program for good in favor of the hybrid scheme.
Dominguez won’t bear reliving the nightmare that was the Cavite-Laguna Expressway which took over four years on the drawing board.
?We are not willing to wait for the private sector to settle their differences. While private companies quarrel among themselves as to who will make the profit, the public suffers from lack of infrastructure. The Duterte Administration is willing to take the construction risks and spend budgeted funds to start projects early,? Dominguez said in a statement.
There is definitely no room to wait as far as the “Build, Build, Build? program is concerned, with 75 big-ticket projects waiting to be started and accomplished under the watch of President Rodrigo Duterte.
The hybrid PPP’s test case is proving to be efficient through the 18 months spent in bidding out the New Clark City project in Pampanga which started in July 2016 and will break ground in December 2017.