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Private Finance 2 (PF2): Re-inventing the Wheel?

The Procurement policy of any government is the most influential factor in determining the efficiency of infrastructure and service provision like roads, water supply and energy. The UK's HM Treasury released its new guidelines on private involvement in infrastructures provision and services to...

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Main Author: N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr
Format: Citation Index Journal
Published: 2013
Online Access:http://eprints.utp.edu.my/10701/1/012066
http://eprints.utp.edu.my/10701/2/012066
http://eprints.utp.edu.my/10701/
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spelling my.utp.eprints.107012013-12-16T23:48:24Z Private Finance 2 (PF2): Re-inventing the Wheel? N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr The Procurement policy of any government is the most influential factor in determining the efficiency of infrastructure and service provision like roads, water supply and energy. The UK's HM Treasury released its new guidelines on private involvement in infrastructures provision and services towards reforming the popular Private Finance Initiatives (PFI) policy. This new approach, it now refers to as the Private Finance 2 (PF2) is meant to correct the imperfections which have bedeviled the older version-PFI. However, the 'new guidelines' contained nothing really new in the area of private financing and operation of public infrastructures, at best it is akin to 're-inventing the wheel' rather than being 'new'. While dwelling extensively on issues relating to cheaper financing sources, risks transfer, counterpart funding by government and improving public sector procurement skills, this paper argues that some countries in the developing world have long recognised these issues and taken practical steps to correct them. 2013 Citation Index Journal PeerReviewed text/html http://eprints.utp.edu.my/10701/1/012066 text/html http://eprints.utp.edu.my/10701/2/012066 N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr (2013) Private Finance 2 (PF2): Re-inventing the Wheel? [Citation Index Journal] http://eprints.utp.edu.my/10701/
institution Universiti Teknologi Petronas
building UTP Resource Centre
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Petronas
content_source UTP Institutional Repository
url_provider http://eprints.utp.edu.my/
description The Procurement policy of any government is the most influential factor in determining the efficiency of infrastructure and service provision like roads, water supply and energy. The UK's HM Treasury released its new guidelines on private involvement in infrastructures provision and services towards reforming the popular Private Finance Initiatives (PFI) policy. This new approach, it now refers to as the Private Finance 2 (PF2) is meant to correct the imperfections which have bedeviled the older version-PFI. However, the 'new guidelines' contained nothing really new in the area of private financing and operation of public infrastructures, at best it is akin to 're-inventing the wheel' rather than being 'new'. While dwelling extensively on issues relating to cheaper financing sources, risks transfer, counterpart funding by government and improving public sector procurement skills, this paper argues that some countries in the developing world have long recognised these issues and taken practical steps to correct them.
format Citation Index Journal
author N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr
spellingShingle N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr
Private Finance 2 (PF2): Re-inventing the Wheel?
author_facet N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr
author_sort N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr, N A W A Zawawi1, A R Abdul-Aziz2, M F Khamidi1, I Othman1, A Idr
title Private Finance 2 (PF2): Re-inventing the Wheel?
title_short Private Finance 2 (PF2): Re-inventing the Wheel?
title_full Private Finance 2 (PF2): Re-inventing the Wheel?
title_fullStr Private Finance 2 (PF2): Re-inventing the Wheel?
title_full_unstemmed Private Finance 2 (PF2): Re-inventing the Wheel?
title_sort private finance 2 (pf2): re-inventing the wheel?
publishDate 2013
url http://eprints.utp.edu.my/10701/1/012066
http://eprints.utp.edu.my/10701/2/012066
http://eprints.utp.edu.my/10701/
_version_ 1738655887697903616
score 13.211869

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