THE FUTURE OF THE COMMONWEALTH DEVELOPMENT
CORPORATION
CONCLUSION
48. We are glad to have been able to take this
opportunity to examine the Government's proposals for the future
of the Commonwealth Development Corporation at a pre-legislative
stage. We do not, however, intend our involvement to end here.
It is our assessment that the transformation of the Commonwealth
Development Corporation into a Public/Private Partnership may
provide a challenging and unique opportunity for the best characteristics
of the public and private sectors to be combined to make a significant
contribution to poverty eradication. It is essential that the
Public/Private Partnership is designed correctly. Some of our
concerns cannot be resolved until a later stage, once the design
of the Partnership has been established in more detail, and the
Commonwealth Development Corporation has made further progress
in the transformation of its management structures and knowledge
base, enabling it to expand significantly its equity portfolio.
We therefore recommend that the House commit the Bill establishing
the Public/Private Partnership to a Special Standing Committee,
where these concerns can be examined further and the proposed
Articles and Memorandum of Association can be evaluated.
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