Private Finance 2 (PF2): Re-inventing the wheel?

N. A. W. A. Zawawi, A. R. Abdul-Aziz, Mohd Faris Khamidi, I. Othman, A Idrus, A. A. Umar

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    1 Citation (Scopus)

    Abstract

    The Procurement policy of any government is the most influential factor in determining the efficiency of infrastructure and service provision like roads, water supply and energy. The United Kingdom's HM Treasury released its new guidelines on private involvement in infrastructures provision and services towards reforming the popular Private Finance Initiatives (PFI) policy. This new approach, it now refers to as the Private Finance 2 (PF2) is meant to correct the imperfections which have bedeviled the older version-PFI. However, the 'new guidelines' contained nothing really new in the area of private financing and operation of public infrastructures, at best it is akin to 're-inventing the wheel' rather than being 'new'. While dwelling extensively on issues relating to cheaper financing sources, risks transfer, counterpart funding by government and improving public sector procurement skills, this paper argues that some countries in the developing world have long recognised these issues and taken practical steps to correct them.

    Original languageEnglish
    Title of host publication4th International Conference on Energy and Environment 2013
    Number of pages4
    DOIs
    Publication statusPublished - 2013
    Event4th International Conference on Energy and Environment 2013 - Putrajaya, Malaysia
    Duration: 5 Mar 20136 Mar 2013

    Publication series

    NameIOP Conference Series: Earth and Environmental Science
    Volume16
    ISSN (Print)1755-1307
    ISSN (Electronic)1755-1315

    Conference

    Conference4th International Conference on Energy and Environment 2013
    Abbreviated titleICEE 2013
    CountryMalaysia
    CityPutrajaya
    Period5/03/136/03/13

    Keywords

    • NHS

    Cite this

    Zawawi, N. A. W. A., Abdul-Aziz, A. R., Khamidi, M. F., Othman, I., Idrus, A., & Umar, A. A. (2013). Private Finance 2 (PF2): Re-inventing the wheel? In 4th International Conference on Energy and Environment 2013 (IOP Conference Series: Earth and Environmental Science; Vol. 16). https://doi.org/10.1088/1755-1315/16/1/012066