Public–private partnership mode of infrastructure procurement has entered into the municipal solid waste management (MSWM) projects of late. Among various governance issues, the choice between the two governance options, i.e., to bundle or unbundle the MSWM supply chain concerning the PPP concession, is a tough task for public organizations. This is not addressed so far in the extant literature. The current paper, while arguing this problem, posits that the network governance approach and usage of organizational theories would hold a promising theoretical framework in formulating and understanding the aforesaid governance choice. Based on the conceptualization of this paper, future research can ground the framework for bundling problem formulations on the established and prominent theories of economics, organization, and procurement, namely transaction cost theory, agency theory, and auction theory.