Reforming legal and regulatory structure of public–private partnerships in Sri Lanka

Purpose This paper aims to investigate the current practices and deficiencies in the legal and regulatory structure of public–private partnerships (PPPs) in Sri Lanka and explore recommended practices by international model laws and guidelines addressing such deficiencies. Design/methodology/approach Firstly, a desk study review was conducted to explore the current practices of PPP in Sri Lanka. Secondly, nine expert interviews were conducted to comprehend further current PPP practices and identify the deficiencies of legal and regulatory structure of PPP in Sri Lanka, and content analysis was used to analyse the interviews findings. Finally, international model laws and guidelines were reviewed to explore recommended best practices. Findings The research explored non-existence of a national PPP policy, lack of clarity of executing a project’s preliminary affordability, and lack of guidance on risk assessment and feasibility studies as current major deficiencies of PPP legal and regulatory structure in Sri Lanka. Further, findings showed that setting-up two project governance structures, a steering committee and a project team, and develop clear guidelines and standard forms can be adapted to strengthen the PPP legal and regulatory structure. Research limitations/implications The findings of this study may be useful to policy makers in tracing essential reforms to PPP legal and regulatory structure. This study is limited to legal and regulatory structure of first three phases of the PPP project life cycle: project identification, project preparation and project procurement. Originality/value This paper establishes a novel framework to visualise the current practices and deficiencies in the PPP legal and regulatory framework in Sri Lanka, and the way of incorporating recommended practices by international model laws and guidelines for its future reformations.