Prominent Malaysian economist and former United Nations Assistant Secretary-General for Economic Development in the United Nations Department of Economic and Social Affairs (DESA), Jomo Kwame Sundaram, says the ‘public-private partnerships’ fad is fading. “After the failure and abuses of privatization became apparent, public-private partnerships have since been promoted ostensibly to mobilize private finance for the public purpose. In all too many cases, PPPs have socialized costs and losses while ensuring private financial gains.”