CAG should gain expertise in reviewing PPP projects, says President PatilBy ANI
Wednesday, November 17, 2010
NEW DELHI - President Pratibha Devisingh Patil has asked the government auditor to gain expertise in reviewing infrastructure sector projects being implemented under the PPP mode.
Her comment came on the sidelines of debate over allowing CAG to audit Public-Private-Partnership (PPP) projects.
President Patil also emphasised that public financial accountability and probity were essential for rooting out corruption.
“As on now it (auditing PPP projects) is still a grey area for public auditors. Therefore, auditors should gain expertise for preparing reviews on issues relating to infrastructure projects under the PPP mode, which may involve change in audit methodology and approaches,” said Patil.
Addressing a function to mark 150th anniversary of the Indian Audit and Accounts Department headed by Comptroller and Auditor General (CAG) in New Delhi on Tuesday, President Patil released a commemorative stamp to mark the occasion.
Patil said that delay in implementation of infrastructure projects was a matter of concern.
“There are projects that have time over-run or remain incomplete or abandoned halfway, which deprive nation of the full benefits of investment. It is necessary to assess whether such projects are indeed, in public interest,” said Patil.
Earlier, speaking at the same function, Prime Minister Manmohan Singh said, “There is a need to improve the structure of private-public partnership arrangements to ensure that they are transparent, ensure competitiveness, and adequately safeguard public interest.”
President Patil also pointed out public financial accountability and probity are essential for rooting out corruption. (ANI)