Private Public partnership

Over the last few decades, our administration focuses on developing our economy where they can address the problem of poverty and of modernization on the Philippines. As our country is still developing and the government resources are limited, new ideas and strategies such as partnerships are needed. This highly evolved development strategy is nowadays termed as Public Private Partnerships (Pops), is a cooperative venture between the public and private sectors in the provision of goods or services which is traditionally provided by the state (Recite &Affable, 2006). The public and private sectors have common goals and their partnership can take advantage of the separate strengths of each to achieve their objectives. On the Executive Summary of Proceedings about Public-Private Partnerships in the Social Sector they elaborated that the private sector exists to make a profit and applies market-based solutions to problems while the public sector attempts to ensure equity and access for c itizens and redresses problems of market failure (Asian Development Bank Institute, 1999).On view of this program, there will e greater opportunities that will come in the future especially in developing our country economically. The program caters mainly to the needs of the public users and also it creates an environment where there will always be consistent growth. Many are still skeptical and in fear of the Private Public Partnerships. Mainly because of there is a conflict of interest between the public and private sector and also there is a chance of higher transaction cost due to its long term contract. An article entitled, For Mutual Benefit-the Advantages and Challenges of Public-PrivatePartnerships cited, the state, that often provides the fixed assets and even the financing for APP is interested in improving the delivery of public goods and services; while on the other hand, private firms are concerned with enhancing profitability and the welfare of their stockholders (FIT Consulting, Inc. , 2012). On this sample risk, it shows that both sectors have different objectives which create a negative impact on the status of nation's social and economic health. In this partnership, the government and the public sector must work together to establish quality standards that will help OTOH of them in the long run.Real partnerships will require Joint planning and discussions and better specifications of the potential roles for each other is needed (Asian Development Bank Institute, 1999). Therefore; accountability, monitoring and transparency by both the public and private sector is really significant. On the conference in Tokyo, Dry. Patricia Craig (Asian Development Bank Institute, 1999) highlighted the urgency of solving some of the problems of the social sector today because of the intensifying pressures of population ageing and globalization on this sector.With the ever increasing population, greater expectations and demands from the society, our government is facing an increasing pressure to deliver new and improved services with only limited resources available. Thus, the private sectors who are much more knowledgeable in terms of market rules and the ability to deliver projects on time can greatly aid the government in providing the services to the public in a way that benefits the people and delivers economic development.Our country today experiences a so called ‘infrastructure deficit', evidenced by congested odds, deteriorated schools, lack of facilities in the hospitals, poorly maintained transit and water treatment systems, and other infrastructure assets which are either non-existent or in urgent need of repair (United Nations Economic Commission for Europe, 2008). Because of the increasing shortage of government funds as evidenced by lack of facilities and manpower, our country critically requires a more serious look at the APP option.With the help of the partnership program, the problems that our country is facing wil l be addressed properly since there will be proper distribution of susceptibilities between the private and public sectors. And as a developing country trying to approximate good governance, the Philippines has already properly characterized the private sector is its most potent partner in meeting said formidable infrastructure challenges, through Pops (Recite & Affable, 2006).Public Private Partnership will surely addressed the challenges of reducing poverty and establishing a more rapid developing system. The program will surely be a reliable strategy that can efficiently deliver its services. Sine there will be proper identification of the needs of our country, there will also be proper implementation of all projects planned by our government with the help of the private sector. This can too produce more Job opportunities for Filipinos since there will be more infrastructure projects so manpower will also be required.Also, the needs of the people will be properly catered since fa cilities are being improved and properly maintained. The APP agenda in various infrastructure sectors and development projects, is aimed at facilitating trading and investments thereby reinforcing the amounts investment climate and its competitiveness in the Asia and with the rest of the world (Recite & Affable, 2006). The Philippines is regarded as an ideal site for investment because of our rich natural resources, highly educated people and a high standard lifestyle at a low cost.With the help of APP, our country will invite more foreign investors which results to an economic growth. Private-public Partnership is a program that will provide greater opportunities in developing our country economically today and in the future. Because the program caters to the needs of the people, as a result, it creates an environment where there is growth and prosperity. Though many doubt the effectiveness of partnership between the private and public sector, but a change from the traditional welf are state is a moving step towards productivity.In reality, markets are imperfect and government may not always work in favor of the most disadvantaged but each sector can do certain things well. In order to have a good governance the private sector needs to consider its social responsibility while the public sector needs to create the appropriate legal and ejaculatory structures as well as a democratic and participatory process in decision making (Recite & Affable, 2006). Real partnerships will involve Joint planning by the public and private sectors, where a culture of true cooperation will need to develop.