Section 2(p) in Punjab Transparency in Public Procurement Act, 2019
(p)"Public Private Partnership" means an arrangement between the procuring entity on one side and the private sector entity on the other, for the provision of public assets or public services or both, through investments being made or management being undertaken, or both investments being made and management being undertaken, by the private sector entity, for a specified period of time, where there is well defined allocation of risk between the private sector and the procuring entity and the private entity receives performance linked payments that conform (or are benchmarked) to specified and pre-determined performance standards, measurable by the procuring entity or its representative;
