Infra firms pitch for regulator to monitor PPP projects across sectors

Infrastructure players have pitched for a neutral regulator to look into issues in public-private-partnership (PPP) projects. They highlighted this to the Vijay Kelkar Committee that is looking into ´revisiting and revitalising the PPP model of infrastructure development´.Indian players are reluctant to participate in projects and there are barely any foreign investors, said an industry player, who made a presentation to the committee. Companies would like a regulator to look at nuances of contracts and ensure quick decision-making. In his 2015-16 budget speech, Finance Minister Arun Jaitley said the PPP mode of development had to be revisited, with the major issue being rebalancing of risk. The government constituted the Kelkar committee, whose terms of reference included a review of the PPP policy, analysis of the risks involved and the existing framework of risk-sharing between the project developer and the government.