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P3 vs. Privatization <br />“Public Private Partnership” & “Privatization” often <br />used interchangeably, but are not synonymous <br />In P3, the Public Sector Partner retains ownership & <br />control over the asset, even when some <br />responsibilities are transferred to Private Sector <br />Public Sector retains control over establishment of <br />user rates, operating standards, other requirements <br />Degree to which responsibilities are retained or <br />shared is defined in the P3 Agreement <br />In Privatization, Public Sector sells some or all of asset <br />to the Private Sector <br />6