CII welcomes Finance Ministry's shortlisting of PPP transaction advisers
29 Aug '07
2 min read
The Confederation of Indian Industry welcomed the move by the Ministry of Finance to announce a panel of eleven companies that would be transaction advisers to state governments and other government agencies to help structure infrastructure projects through Public-Private Partnership.
“Having independent and transparent PPP advisers will give governments the confidence to push forward with many projects in a range of sectors. These advisers will help in attracting the best bidders and ensure that PPP really takes off, especially at the State and municipal levels”. This was stated by Mr. Vinayak Chatterjee, co-chairman of CII's National Council of Infrastructure.
The eleven companies that have been shortlisted are: Abacus Legal Group India; Crisil Infrastructure Advisory; Deloitte Touche Tohmatsu; Ernst & Young; Feedback Ventures; Grant Thornton, UK; Infrastructure Development Finance Company; Infrastructure Leasing & Financial Services (IL&FS); International Finance Corporation (IFC); PricewaterhouseCoopers; and RITES.
The announcement of this panel will thus help the State Governments build a shelf of bankable PPP projects that will be bid out. It will also allow the rapid sharing of best practices across different States and agencies so that the taxpayer gets the best value.
CII also believes that the Finance Ministry's shortlisting of as many as eleven companies will, in itself, lead to more competition between the shortlisted companies and more choices for sponsoring government agencies.
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