NAPPP gets Cabinet approval

The Cabinet cleared the proposal to establish National Agency for Public Private Partnership (NAPPP) under the Ministry of Finance, Economic Stabilisation and National Policies.
President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilisation and National Policies on Monday sought the approval of the Cabinet of Ministers to establish NAPPP with a view to resolve issues faced by investors in undertaking public – private partnership (PPP) projects and in order to ensure such projects are implemented within a specified time frame.
The NAPPP is expected to identify such bottlenecks faced by investors and to come up with remedies to resolve these issues, with an ultimate objective to encourage investments.
Rs.250 million has been allocated in the 2022 revised budget for the initiative.
During Yahapalanaya regime between 2015-2019, similar NAPPP was established. However, the short-lived unit failed to achieve its objectives. It was headed by the leading investment banker and PPP specialist Thilan Wijesinghe.