In line with the PPP Center's mandate to monitor public-private partnership (PPP) projects to ensure that contractual milestones and obligations are met, and to provide updates and relevant information on PPP projects under implementation to concerned bodies and agencies, the Department of Budget and Management (DBM) and the PPP Center issued Joint Memorandum Circular (JMC) No. 2018-01 dated December 21, 2018, or the Reporting of PPP Project Spending and Contingent Liabilities. The circular took effect on February 18, 2019, following its publication in the Official Gazette.
The circular aims to standardize the reporting and monitoring of public and private sector spending on PPPs and contingent liabilities arising from PPP projects, and improve and regularly update the database of PPP projects to include projected and actual spending on PPPs, including contingent liabilities arising from the same, to help the government track infrastructure spending targets and fiscal risks.
With this development, the PPP Center should be able to more efficiently collect the needed data on project spending and contingent liabilities, and provide the needed reports to appropriate oversight bodies and agencies.
Source: Public-Private Partnership Center