‘British private finance initiative is not replicable’

Our Corporate Bureau

Mumbai, Oct 3: The public sector should ultimately be responsible for service delivery and does not need to own assets. The British model of private finance initiative (PFI) which was introduced in November 1992 by the then British Prime Minister’s conservative administration has been a success story but is not automatically replicable everywhere, according to Partnerships UK (PUK) deputy chairman, Adrian Montague.

The PUK was launched in June 2000 to develop and expand the government’s public private partnership programme (PPP). Dwelling on the British experience, Mr Montague said that the organisation’s role had expanded from incremental investment to creating better investment.