Translated Abstract
Public-private partnerships (PPP) rudimentary aim is to purchase a stream of services under specific contracts rather than purchasing an asset as a whole. This approach provides unique direction to the governments towards attaining the transaction since it can deliver the right economic inducements. Over the last few years, PPP has gradually evolved as one of the best approaches in many developed countries for delivering all types of economic and social infrastructure projects. However, the impact of efficiently implemented PPP schemes looks to be very limited to developing markets. In South Asia, the infrastructure investment risks encompass different environments, such as the institutional risks, the inadequacy of legal frameworks and inappropriate regulations on a provisional basis. The capability to engage in investments and refund the debts is subject to law and procedures that manage the alienable of returns, property privileges and undertakings. In this regard, the dissertation draws much attention to the significance for the project funding that has to corroborate with PPP schemes. It builds on a pragmatic solution for governments and investors in various types of infrastructure projects like transportation, energy and saddling urbanization sector through venture of PPP in South Asian countries specifically Bangladesh and Pakistan. In these countries, PPP is at its infancy stage to deliver the best solutions for all types of infrastructure development. However, there is a need for thorough exploration of its critical success and risk factors. The intention of this work is to inquire into the innovative solutions of executing PPP projects and extending its literature by disentangling the specific determinants of South Asian countries associated risks at a granular level. The study fills the research gaps of social and economic infrastructure projects by finding critical factors majorly in urbanization, energy, and transportation sectors.
This dissertation adopts the Mixed methods approach to analyze the ongoing PPP project cases through surveys, meta-review of the literature, multilateral organizations websites, government reports, working papers, in-depth case analysis and interviews with PPP experts working in different sectors of Pakistan, Bangladesh, and China. This dissertation uses PESTLE (political, economical, social, technological, legal, environmental) context for more rigorous and robust results. The statistical data analysis results are conducted through SPSS 21. It first confirms the data type through Run-Test & Kolmogorov Smirnov on these countries data to conduct Parametric or Nonparametric tests then further comparison done by Mann Whitney-U test. The study also uses factor analysis technique to construct a valid group of factors in pilot urban rail transit PPP’s projects through Kaiser-Meyer-Olkin & Bartlett test.
Theoretically, this study first enriches the literature of governance theory within an institutional context by explaining that good governance requires stable institutions for the rule of law, issues of accountability, transparency and civil rights. A state that does not accept the rule of law can undermine the future development of valid and legitimate partnerships and governance. Second, the study extends the literature of neo-institutional theory by integrating it with resource-based view (RBV) and transaction cost economics (TCE) concepts. Thirdly this study also contributes that PPP’s selection for a project will be appropriate if it have corporate social responsibility notion. It explains social acceptability of RE project can be enhanced by creating awareness of the renewable technologies through educational institutes’ seminars, community meetings and providing solar homes appliances to the surrounding community for direct transmission. Hence sometimes social value of PPP is more important than monetary costs when it provides a range of paybacks that create high worth for people. Overall, this study updates the knowledge in the developments of PPP practically as well contribute the theoretical literature by integrating Neo institutional concept within parameters of South Asian nations in perspectives of governance, TCE and RBV theories. Practically, this dissertation recommends several implications for the governments and practicing managers in developing countries.
We proposed four objectives and address their attainable solution in this thesis:
The first objective investigates the critical factors in emerging nations of South Asia (Bangladesh & Pakistan) in PPP projects. The findings confirm that the most critical risk factors are political instability, political disengagement, inconsistencies in policies, lack of implanting financial attraction in projects, attaining finance, the inadequate legal frameworks, purchase of land, unnecessary delay in project sanctions or disapprovals, strong political interfering, corruption, and favoritism. Furthermore, innovative critical factors indicated and contributed to the PPP literature through this work are “countries bilateral associations” & “terrorism image”.
The second objective proposes a solution for managing and administrating the saddling urbanization by concentrating on 11th goal from Sustainable Development Goals (SDGs) presented by UNO through sustainable infrastructure execution by PPPs in the South Asian metropolis. It states that the accomplishments of sustainable development goals are closely associated with governance as PPP is the unique practice of governance.
The third objective comprises of two sections. Firstly it describes (i) finding construction risk factors and opportunities in one of the largest renewable energy solar ‘Photovoltaic’ plant with a venture of PPP through PESTLE framework which is an ongoing project case study. (ii) Secondly, it outlines the effect of RE project on the innovation of the periphery, which can be helpful for governments in a way that they can increase the role of partnerships as a policy instrument. Thus, findings provide the basis of benchmarking practices of PPP’s that includes the adoption of barren land, pro-poor development, new markets, green growth and play a role in supply balances. Further, the analysis of the survey extends the PPP literature by measuring the effect of RE project on the innovation of the periphery through respondent’s feedback.
The fourth objective explores the critical factors of pilot urban rail projects developed through PPP in the transportation sector of Pakistan and Bangladesh. Private sector department in urban rail transits has a history of over 100 years and contemporary over 50 countries in more than 150 cities in the domain of operational modern urban rail transit systems. Therefore, the overall aim of the study develops critical model factors for pilot urban rail transit project through PPP’s (BOT) basis. This dissertation identifies seven critical factors in 26 pilot urban rail transit schemes executed with PPP’s ventures are: stable political and social environment, favorable economic condition, effective procurement , adequate risk allocation, mutual trust and respect among stakeholders, project implemenatbility and transparent regulatory framework. With these mentioned critical factors others are according to the context of Pakistan and Bangladesh which also playing critical role in these projects are bilateral relationships between different governments and terrorism image overcome strategies that contribute to this study.
Translated Keyword
[Critical factors, Infrastructure, Pakistan, Public private partnerships, Sustainability, Bangladesh]
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