Assessing the Perceptions of Regional Stakeholders on the Benefits of PFI for Infrastructure Provision

Wan Abdullah Zawawi, Noor Amila and Umar, Abdullahi Ahmed and Khamidi, M. Faris and Idrus, Arazi (2012) Assessing the Perceptions of Regional Stakeholders on the Benefits of PFI for Infrastructure Provision. In: 2012 2nd International Conference on Business and Economics Research (ICBER2012), 29-30 September 2012, Phnom Penh, Cambodia.

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The Private Finance Initiative (PFI) has been touted as providing value for money (VFM) more than any other form of public procurement. While it cannot be denied that PFI has helped provide infrastructures faster than would have been possible if relying solely on public budget, the VFM argument, which is the most claimed benefit, has continued to be elusive. This study sought the perceptions of stakeholders on the benefits of PFI in infrastructure since its introduction into the public sphere. The target respondents are stakeholders attending two PFI-focused conferences held in Malaysia through survey questionnaires. The findings was consistent with earlier commentators, that among the major benefits achieved so far, VFM fails to rank among the most important benefits of PFI procurement strategy. The delegates ranked the followings: 1) encouraging a more innovative public sector; 2) improved business confidence; 3) contribution to economic growth; 4) better accountability; 5) increased investment in infrastructure; and 6) helping government spread payment over life of the asset; as the most important benefits derived so far from PFI procurement strategy out of 20 identified benefits, with VFM ranked a distant 14th place on the list.

Item Type: Conference or Workshop Item (Paper)
Subjects: T Technology > TH Building construction
T Technology > TA Engineering (General). Civil engineering (General)
Departments / MOR / COE: Departments > Civil Engineering
Research Institutes > Institute for Sustainable Building
Depositing User: AP Dr Noor Amila Wan Abdullah Zawawi
Date Deposited: 13 Dec 2012 11:39
Last Modified: 19 Jan 2017 08:21

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