07 May WHAT IS PUBLIC-PRIVATE PARTNERSHIP?
What is Public-Private Partnership? According to John Loxley (2010: 2), private public partnerships, or P3s, are described as “any kind of arrangement that entails the involvement of the private sector in some element of the provision of public infrastructure and services.” In a paper released by Partnerships – British Columbia (2003: 2), a company owned by the province, P3 is defined as “a legally-binding contract between government and business for the provision of assets and the delivery of services that allocates responsibilities and business risks among the various partners. Since the inception of P3s, this has been contested by its critics arguing that empirically observable transactions and operations hardly show any risk sharing or transfer, among others. It is in this light that this paper will analyze PPP or P3 projects in the Canadian public sector.
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