A committee will be constituted for the SPVs. "It will have 15 members. Eight will be elected representatives, such as mayor, opposition leader and house leader. The remaining seven will be from the administration and experts.
The Maharashtra government is in the process of setting up special purpose vehicles (SPV) to undertake and implement various projects under the Smart City project. Initially, the SPV will be formed in Pune and Solapur at the municipal corporation level.
"The Central government has shortlisted Pune and Solapur for the Smart City project. We are in the process of setting up SPVs, which will be completed by March-end," Urban Development Department principal secretary Manisha Mhaiskar-Patankar told dna on Friday. She said under the Smart City concept, the Centre will provide Rs200 crore each for the city and Rs100 crore each will be contributed by the state governments.
A committee will be constituted for the SPVs. "It will have 15 members. Eight will be elected representatives, such as mayor, opposition leader and house leader. The remaining seven will be from the administration and experts.
A CEO will head the committee," said a senior government official, on the condition of anonymity.
He said the purpose of the SPV was to undertake the project on a priority basis, without wasting time in bureaucratic procedures. "The SPVs will function efficiently and speedily implement the projects. Besides, they will also closely monitor the progress of the project. They will also be the facilitator between the state and the Centre," the official added.
Another official said the SPV will have right to raise loans and issue bonds in the market. "It will be like a private company, where the members will be from all strata of the society. Therefore, they have to function efficiently to complete the project in scheduled time. We are still working on the details of operations," said an official.
The Smart City project will focus on sanitation, clean water, transport, road, education improvement and so on. "Earlier, most of the government fund was not spent properly. Now, SPV will monitor the funding and check that no fund is wasted on wrong work. This new system is more transparent and accountable," said an official, requesting anonymity.
The Maharashtra government had initially identified 10 Smart Cities in the state, including Amarawati, Thane and Mumbai. "In the second lot, we expect other cities will also be included," said an official.
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