Cabinet Approves PPP Mode of Funding, PPP Cell

KL NEWS NETWORK

SRINAGAR

The State Cabinet Wednesday under the chairmanship of Chief Minister, Mufti Mohammad Sayeed accorded sanction to the adoption of the sectoral approach for undertaking projects in PPP mode and creation of PPP-Cell in the Finance Department.

All line departments would identify projects to be undertaken in PPP Mode and PPP-Cell in the Finance Department will provide initial guidance and appraisal, an official statement said this evening.

Concurrence of Finance Department and Planning and Development Department would be to be taken before bidding projects. All PPP Projects would be undertaken after seeking the approval of the Cabinet. PPP Cell would also act as Advisor or help in the transaction advisor.

A Steering Committee, headed by Chief Secretary with Planning, Finance, Revenue, Law and concerned department Secretaries as members, will be set up to oversee selection, formulation and implementation within the laid down timelines.

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