THE chairman of the House Committee on Economic Affairs on Monday urged Congress to immediately pass House Bill 6575, or the Public-Private Partnership (PPP) Rationalization Act of 2020, to strengthen and concretize the role of public-private partnerships in nation-building.
AAMBIS-OWA Party-list Rep. Sharon Garin said her House Bill 6575 is set to complement Accelerated Recovery and Investments Stimulus for the Economy (ARISE) approved by the House of Representatives last June 4, 2020.
According to Garin, the role of the private sector is very important in addressing the challenges posed by the Covid-19 pandemic.
“As we deal with the aftermath of the two-month enhanced community quarantine [ECQ] and transition to the era of the ‘new normal,’ fostering PPPs will help accelerate economic recovery and development. We acknowledge the innovation and technology that the private sector can deliver as we continue to fight this invisible enemy,” she said in a news statement.
The bill aims to increase investments and private sector participation by scrapping the P1-billion threshold for projects entitled to incentives.
The measure also proposes the creation of the Public-Private Partnership Authority.
It also proposes the creation of a project development facility which shall serve as a revolving fund to finance the proper identification, study, development, validation, and preparation for public bidding.
To prevent delays in completion and ensure the continuity of projects, the bill also proposes the protection of PPP projects from restraining orders, preliminary injunctions, or preliminary mandatory injunctions, by any court except the Supreme Court.
The bill is pending with the Committee on Public Works and Highways since May 4, 2020.
As the principal sponsor of landmark bills advocating for better public services through fair and improved competition, Garin maintains that House Bill 6575 is one of the key pieces of legislation that will help jump-start the Philippine economy and provide relief to the Filipino people in the wake of ECQ.