In a public consultation held on Tuesday, September 13, 2022 at the Asian Development Bank (ADB) in Mandaluyong City, the PPP Center highlighted that proposed amendments to the 2022 Implementing Rules and Regulations (IRR) of the Build-Operate-Transfer (BOT) Law will (1) address stakeholder concerns on the financial viability and bankability of PPP projects; and (2) clarify ambiguous provisions that could cause delays in the PPP process.
According to PPP Center Deputy Executive Director (DED) Jeffrey Manalo, “The proposed amendments took off from the comments raised by various stakeholders during the previous consultation held in March of this year.” To recall, on April 11, 2022, the 2022 IRR of the BOT Law was approved by government, and subsequently published and became effective on April 26, 2022.
The public consultation held at the ADB, which was livestreamed through the PPP Center Facebook page, was intended to address stakeholder concerns arising from the April 2022 amendments.
The said event was attended by over 70 participants from the private sector, government implementing agencies, civil societies, and development partners. The panel discussion was led by Undersecretary Joseph Capuno from the National Economic and Development Authority (NEDA), Undersecretary Catherine Fong from the Department of Finance (DOF), DED Manalo from the PPP Center, and Special Adviser Felix William Fuentebella from the Department of Energy.
ADB’s head of the Office of Public-Private Partnership F. Cleo Kawawaki expressed her support to the initiative.
“Finding the optimum balance of risk allocation remains the goal of the proposed update of the BOT Law IRR, which enables PPP development to remain responsive to both government objectives and private sector interests,” Ms. Kawawaki said.
NEDA Undersecretary Capuno, meanwhile, highlighted that putting in place the right policies, institutional framework, and regulations to strengthen transparency in PPPs from the development up to the implementation stages will significantly contribute to our post-pandemic economic transformation and to achieving the vision in which Filipinos can enjoy a strongly rooted, comfortable, and secure life.
The PPP Center also stressed that the proposed revisions to the IRR aim to promote transparency and accountability in delivering infrastructure projects and push for appropriate sharing of risks between the government and the private sector. It aims to ensure that all parties to PPP contracts are capable to implement their respective contractual obligations while, at the same time, upholding the interests and welfare of Filipinos.
The BOT IRR Committee is co-chaired by the NEDA and the DOF, with the PPP Center serving as member and secretariat.