(1) The Steering Committee may, on its own initiative or on the direction of Cabinet, identify a project for implementation as a public-private partnership where the project —
(a) provides assets and services in key infrastructure sectors including —
(i) transport,
(ii) energy,
(iii) water,
(iv) communications,
(v) construction and management of public facilities, such as schools, hospitals and office buildings;
(b) is a significant investment in priority productive sectors that require use of assets, including land;
(c) is a more effective and innovative utilization of assets in priority areas of development including —
(i) agriculture,
(ii) tourism;
(d) provides other high-potential and export-oriented commercial activities.
(2) In identifying a project for implementation as a public- private partnership, the Steering Committee shall be satisfied that the project —
(a) provides value for money;
(b) is affordable to the procuring entity;
(c) transfers appropriate operational or financial risk to the private party.
(3) Where a project is identified for implementation as a public-private partnership under subsection (2), the Core Team shall screen the project for public-private partnership potential by ensuring that —
(a) the project complies with economic policy priorities and sector plans over the short and long term;
(b) the project is technically, legally, environmentally and socially sustainable, economically cost-benefit justified and least-cost solution to the identified service need;
(c) the cost of the project is in line with fiscal priorities and risks retained by the Government is not fiscally destabilizing;
(d) there is a qualified private party available to implement the project and the project is expected to provide a commercial rate of return sufficient to attract such party and create competition for the opportunity;
(e) the public-private partnership is expected to achieve value for money compared to alternative implementation options and other public-private partnership structures.
(4) The Core Team may, in screening a project under subsection (2), require —
(a) stakeholder consultation; and
(b) pre-feasibility analysis to identify technical solutions and major risks, and estimate project costs and revenues.