Former Defense Secretary Gilbert "Gibo" Teodoro (File photo)
MANILA – Former Defense Secretary and senatorial bet Gilbert “Gibo” Teodoro hopes to revitalize the public-private partnership (PPP) program to continue building critical infrastructures across the country.
In a statement Monday, Teodoro said the next administration should not stop in investing in key infrastructures that will usher economic growth and create more jobs and livelihood for Filipinos as the country recovers from the pandemic.
“Our physical infrastructure still has a lot of gaps that need to be filled. (But) in that sense, that is where the PPP procedure for infrastructure is there for,” he said.
The former Tarlac representative and 1989 Bar topnotcher added that those projects “with reasonable rate of return for the proponent” should be listed under a PPP program.
Teodoro said PPPs can address the limited funding resources of the government as the private sector could infuse their capital to help in building the needed infrastructures.
This will also help to slow down the national debt, which amounted to over PHP12 trillion as of end-February.
“It is timely that the next administration will push for more PPP projects in order to continue vital projects without much borrowing from foreign sources. The private sector has the capital, and they are ready to invest once they see these opportunities,” the senatorial candidate under the UniTeam Alliance said in a previous statement.
Under a PPP program, the government partners with the private sector who can provide funding and technical expertise to deliver public services like roads, railways, seaports, airports, internet connectivity, and hospitals, among others.
According to the PPP Center, there are 63 PPP projects as of 2021 with total value of PHP7.2 trillion. (PNA)
