The National Economic and Development Authority (NEDA) said the implementing rules and regulations (IRR) of the Public-Private Partnership (PPP) Code will come into effect in the first week of April this year.
NEDA Secretary Arsenio M. Balisacan said on Thursday, Feb. 22, that their goal is to complete and publish the approved IRR by March 22, or within the 90-day timeframe stipulated by the law.
“We expect to release the implementing rules and regulations or IRR according to schedule,” Balisacan said.
Under the schedule presented during a forum by Balisacan, the deadline for the completion of the 90-day period and the publication of the IRR in the Official Gazette or a newspaper of general circulation is March 23, 2024.
To recall, Republic Act No. 11966, or the PPP Code, became effective on Dec. 23, 2023, triggering the start of the 90-day period for the IRR on Dec. 24, 2023.
According to the NEDA, the IRR will take effect 15 calendar days after publication, on April 6, 2024.
“By firming of this policy framework, we expect even greater interest in PPPs in the years to come,” Balisacan said.
After several discussions with stakeholders, the PPP Center said on Thursday that it would present the draft of the IRR for the PPP code before the IRR Committee.
The committee includes the secretaries of the Departments of Finance, Budget and Management, Justice, Trade and Industry, Interior and Local Government, Environment and Natural Resources, the chairperson of the Commission on Higher Education, the executive secretary, and PPP’s executive director.
The PPP Center has been holding consultations with public and private entities to ensure that the IRR aligns with the sector-specific realities and challenges in the country.
At present, a working draft of the IRR was uploaded online but the PPP Center will still accept inputs from interested parties through the link (https://bit.ly/pppcodeirr-submission) and hold another consultations with public and private sectors on March 01 and March 04.
What’s in the current IRR?
In the new PPP code, the threshold for project approval by the National Economic and Development Authority (NEDA) Board, which is chaired by Marcos, will be raised from P300 million to P15 billion.
Meanwhile, all those below P15 billion will be left to the head of the implementing agency or their boards, if they have one.
It also penalizes over P1 million to P5 million and three to six years imprisonment those who submitted any false information or falsified documents and influence any member of the implementing agency to favor a certain private partner.
In addition, it also clarifies the requirements for unsolicited proposals by submitting complete documents such as the feasibility study, project site plan, and information on the qualification of private proponents, among others.
PPP projects in the pipeline
As of this month, the PPP Center is reviewing 117 projects worth P2.5 trillion, with 15 solicited projects expected to be approved this year and 13 to be approved in 2025.
Possible projects that may be submitted for approval this year include the operation and maintenance of the Metro Manila Subway and the North-South Commuter Rail. (With Chino S. Leyco)
