Title: Case Study of the Private Finance Initiative (PFI) in the UK: Insights for India 1
Abstract: This paper has two main objectives. The first is to analyse United Kingdom's experience of of more than two decades of PPP method or procurement in the social sector, through its Private Finance Initiative (PFI) which was introduced in 1992. The second is to discuss insights from UK's PFI experience for similar social sector initiatives in India. PFI attempted to use methods and practices of project finance for public sector infrastructure projects, specifically for the sectors such as education and health. By 2012, 717 PFI projects were either under construction or in operation across the various departments of the UK Government, with a total capital cost of GBP 54.7 billion, and total repayments amounting to GBP 301.3 billion until the financial year 2049-50. These projects were initiated with the objective of reaping benefits from private sector’s presumed project management skills and innovation and risk management expertise, and thereby progressing towards greater output-orientation by the public sector departments. To what extent were the above objectives realised?
Publication Year: 2015
Publication Date: 2015-11-27
Language: en
Type: article
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