The Government of Indonesia (GoI)
increasingly relies on the private sector financing to build and operate
infrastructures through public private partnership (PPP) schemes. However, PPP
does not automatically provide the solution for the financing scheme due to
value for money (VFM) issues. The procurement authority must show whether a PPP
proposal is the optimal solution that provides best VFM outcome. The paper
presents a literature review of comparing quantitative VFM methodology for PPP
infrastructure project procurement in Indonesia
and Australia.
Public Sector Comparator (PSC) is used to assess the potential project VFM
quantitatively in Australia.
In Indonesia,
the PSC has not been applied, where the PPP procurement authority tends to
utilize a common project evaluation method that ignores the issues of risk.
Unlike the conventional price bid evaluation, the PSC enables a financial
comparison including costs/gains and risks. Since the construction of PSC is
primarily on risk management approach, it can facilitate risk negotiation
processes between the involved parties. The study indicates that the
quantitative VFM methodology of PSC is potentially applicable in Indonesia for water
supply sector. Various supporting regulations are available that emphasize the
importance of VFM and risk management in infrastructure investment. However,
the study also reveals a number of challenges that need to be anticipated, such
as the need of a more comprehensive PPP policy at both central and local
government level, a more specific legal instrument for bidding evaluation
method and the issue of institutional capacity development in PPP Units at the
local level.
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