PRESIDENT Benigno Aquino III has certified as urgent the passage of the proposed Public-Private Partnership (PPP) Act, the PPP Center said.
This was after the bill has reached second reading in the Senate.
"On Wednesday, December 16, the President certified that the immediate enactment of the PPP bill was necessary for the expeditious implementation of vital infrastructure projects in order to address the urgent needs of calamity-stricken areas and sustain the long-term growth of the Philippine economy," PPP Center said.
In the Senate, the PPP bill began its second reading on December 15.
Senator Ferdinand Marcos Jr., chair of the Senate Public Works Committee, and co-sponsor Senator Ralph Recto gave their sponsorship speeches, with the period of interpellation to be held in January.
In the House of Representatives, the public works committee submitted the consolidated PPP bill on December 14, after the House appropriations committee held a hearing to approve its budget-related provisions.
The consolidated bill replaced the numerous versions filed by House Speaker Feliciano Belmonte Jr., Majority Floor Leader Neptali Gonzales II, public works chair Ronald Cosalan, ways and means chair Romero Quimbo, Representatives Romeo Acop, and Jesus Sacdalan.
The PPP bill, entitled “An Act Institutionalizing and Strengthening Public-Private Partnerships, and Appropriating Funds Therefor,” seeks to strengthen the legal framework for undertaking public infrastructure projects through PPP and to institutionalize the reforms that were initiated in 2010 with the implementation of the Philippine PPP Program.
Among its provisions include a prohibition on trial courts from issuing temporary restraining orders for PPP projects; an exemption from real property tax for projects of national significance from real property tax; and the institutionalization of the Project Development and Monitoring Facility, PPP Center and alternative dispute resolution mechanisms in PPP contracts. (SDR/Sunnex)