Public-private projects under the Pakatan Harapan government will see an end to direct tenders and land swap deals.
This was announced by Finance Minister Lim Guan Eng today, who said Harapan will now adopt the “Public-Private-People 2.0” (PPP 2.0) model of negotiating projects with the private sector.
“The new true PPP model, or what I would term as PPP 2.0, would decouple the land swap (deals) by carrying out open auctions for the land to be sold, while at the same time executing an open tender for the project to be built.
“This will enable the government to achieve the highest revenue for the asset disposed of while receiving the best value for the project to be awarded,” he said at the “Malaysia: A New Dawn” conference in Kuala Lumpur.
Lim introduced PPP 2.0 to put an end to the previous BN government’s method of negotiating projects, many involving land swaps and direct tenders.
He alleged that BN’s methods had engendered “corruption” and “extraordinary profits for crony companies”, ultimately shortchanging the government and taxpayers.
“Through direct negotiation, the real value of the government land was invariably under-priced whilst the cost of the public works project was over-priced,” Lim added.
No cancelled projects
The minister maintained that the PPP 2.0 model will be implemented in all future projects, as well as in existing projects which had yet been approved.
“There will be no cancellation of PPP projects.
“They (existing projects) will be continued but under a different format and mechanism,” he said.
The one-day “Malaysia: A New Dawn” conference gathers stakeholders from the financial sector and various industries to share their input on how to boost the country's economy.
It is jointly hosted by the Finance Ministry, CIMB, Maybank and RHB banks. - Mkini
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