ICAI seeks corrections to Public Private Partnership model
September, 23rd 2014
The Institute of Cost Accountants of India (ICAI), in association with the International School of Business, Hyderabad, is conducting a joint study and it will recommend to the government to incorporate certain corrections in the Public Private Partnership (PPP) model of investments.
“The PPP model has failed to a large extent, with many projects unable to generate the projected profits,” ICAI national president A.S. Durga Prasad said here in an interview on Saturday.
He said the ICAI had gathered the data on the issue . It will be studied after which interviews will be held with major players in PPP projects. He said, “We will also study some foreign models to understand the reasons for their success. It is unfortunate that in India not a single toll gate project has earned any profit,” Prasad said. He said the report would be completed in three months.
Further, he said, the ICAI would also undertake another study on the cost of agriculture operations, logistics and distribution. It is also evolving guidance notes on standard costing template and tracking cost of procedures for large health care projects.
He said that after revising the curriculum in 2012, the institute had been focusing on providing trained accounting professionals in the rural areas. The certified accounting technician (CAT) course, which could be completed in a year, has become a big hit in Kerala. Already 800 students have completed the course and in the current batch 3,000 students enrolled themselves. During the next batch, 5,000 are expected. After Kerala’s success, Rajasthan Government is also showing interest in the course, he added.