It is important that these cases are resolved rapidly and that they create clear precedents and mechanisms for handling defaults in future as otherwise the lack of legal certainty will act as a drag on the development of the Sukuk market. The second set of issues relate to risk management. This has a number of different dimensions, but two in particular are worth highlighting.
The objective is also to develop a twenty-year planning framework beyond one administration to avoid the typical stop-start pattern of the past. The PICC’s mandate is to ensure systematic selection, planning and monitoring of large projects. An infrastructure book that contains more than 645 infrastructure projects across the country has now been compiled by the PICC.