As per the Govt. Resolution no smartci-pune-2016/PR94/UD-23 dated 14/03/16, the composition of the Special Purpose Vehicle for Pune Municipal Corporation has been approved. “P U N E Smart City Development Corporation Ltd (PSCDCL)” has been formed on 23rd March 2016 as Special Purpose Vehicle (SPV) under Smart City Mission for implementation of Smart City Projects in Pune.
The registered office of the “Pune Smart City Development Corporation Ltd. (PSCDCL)” is at the Pune Municipal Corporation (PMC) office Main Building at Shivaji Nagar Pune.
PSCDCL is envisaged to be a thin SPV with procurement from the market for all the positions from CEO to HoDs.
The CVO will ensure propriety in the organisation and shall therefore report to the Board functionally and to the CEO for administrative purposes.
PR will be a function that will improve citizen interactions and also procure secretarial services. The PRO is expected to have an office which will answer any question raised by any citizen who walks in.
A new paradigm in structuring of SPV has been considered for PSCDCL. Instead of creating a thick organisation, the CEO and the HoDs will be supported by General Consultants. The General Consultants will support PSCDCL through a variety of activities starting from fund raising and technical support to M&E. The team of experts of the GC will assist each HoD in procurement of Project Consultants or the Implementation Agency as required. The GC would also play a critical role in innovatively structuring and raising finance from the market to bridge the funding gap in the project.
There are certain mandatory activities to be undertaken by the Board such as creation of the Audit Committee. The Chairman of the Board is a non-full time director and therefore can be a member of the Audit Committee. Additionally, the Board can create other sub-committees based on good governance practices, which can ensure effective functioning of PSCDCL and the Board. It is proposed to have an advisory panel of experts to support the Board members in their decision making.
The delegation of powers in PSCDCL shall be carried out in such a way that the CEO and the HoDs are empowered to handle issues during implementation.
Monthly review meetings are critical to ensure that no projects are delayed due to delays in organising meetings.
Unlike in other cities, this is a citizen centric SPV and therefore transparency is of paramount importance.