A

In projects of this nature, it is only the participating institutions and decision-making government authorities who will have all the relevant facts and figures. The public can at best express its views, expectations and apprehensions of the project. It is therefore necessary that the authorities disclose all the relevant information to enable the public to know what the project will mean for them.

The financial cost of the project is not disclosed; nor are the terms of funding by the bank and the infrastructure development institution involved. The private parties cannot plead commercial secrecy when public funds are likely to be used. It may be recalled that a few years back, a hovercraft service operated between Vashi and the Gateway of India. That service was wound up because it was not found to be viable. We should also remember that a few years back a private sector entrepreneur started an airconditioned bus service on several routes in the city. It was started with all fanfare. Soon it ran into financial difficulties and the state had to take it over, adding to the BEST’s woes.

A few points about the proposed ferry service are raised here in the interest of an informed debate.

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from their membership obligations of the consortium, are the IDFC and Dena Bank granting any loans to the shipping company that is heading the consortium? What are the specific roles, functions and obligations of the MSRTC and the consortium leader – a private party? Hopefully, Dena Bank would have ensured that it is not going to add more to its non-performing assets. It will be the duty of the authorities to enlighten the public on all the above aspects.

Any new innovative infrastructure arrangement needs to be considered in all fairness and banks and infrastructure institutions should encourage such projects. But the viability of such projects is an important aspect and we cannot give any less importance to this merely because it is a private venture. When new instruments of public-private partnership are being propagated and taken up, it is the responsibility of the government to ensure that the terms of the public-private partnership are fair and reasonable and do not result in unduly large gains to one party and onerous responsibilities for the other. In fact, the success of public-private partnerships depends on the greater dissemination of relevant information on the terms and conditions of the various agreements. Otherwise, the good instrument of the public-private partnership is likely to be a new name for public assets being transferred to private profits.

At any rate, the state government and its organisations that are implementing this project will need to provide the public with more relevant and meaningful details so that the people can rest assured that their monies are being put to profitable use and not frittered away in some illusory project that will not benefit the common person. It is hoped that the state will fulfil this public obligation.

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