Meghalaya cabinet approves Public-Private Partnership Policy

Meghalaya cabinet approves Public-Private Partnership Policy

Shillong, Jul 19: The state cabinet on Monday cleared the Meghalaya State Public-Private Partnership Policy (MSPPP).

The policy is to promote growth and facilitate more private investments while safeguarding and promoting the interests of the communities.

“One unique policy aspect of the Meghalaya State PPP is the Community Infra Projects (CPPP) where the community shall be actively involved and contribute through the entire process,” Chief Minister Conrad Sangma informed.

Sangma also said that the community will not only provide the land but their consent would also be taken at critical junctures. At the end of the project cycle, the assets along with the land would be passed back to the community.

The Policy has two types of PPPs – Large Infrastructure Projects (PPP) that require large investments, typically more than Rs. 10 croes for example – major roads projects, hydro power projects and community infra projects (CPPP) – projects that require smaller investments, typically less than Rs. 10 croe like a processing plant.

Under CPPP, the community shall be actively involved and contribute through the entire process. The community will not only provide the land, but their consent would also be taken at critical junctures. At the end of the project cycle, the assets along with the land would be passed back to the community.

The benefits of PPP Policy is that quality infrastructure has a multiplier effect and forms the basis for long term development, like economic growth, utilizing private sector’s efficiencies, employment opportunities for the local, capacity building in the state and creating new assets & strengthening existing assets