New Procurement Act to end hassles for PEs

By Admin On 10 Jun 2014 in Other Services

KATHMANDU - The government has been working on a new Public Procurement Act in a bid to cut the red tape hindering public enterprises from competing with private companies with regard to purchasing products and technology.
Public enterprises like Nepal Telecom, National Trading and Nepal Food Corporation have been complaining that the complicated procedures of the existing Public Procurement Act have prevented them from making timely purchases while private companies surge ahead as they are unfettered by such rules.
In order to allow timely purchases, the proposed act has provisioned that public corporations competing with the private sector can buy whatever they need under their own Purchase Working Procedure after getting the go-ahead from the Public Procurement Monitoring Office (PPMO) that keeps a watch on public procurement.
The proposed law has inserted this provision under the heading of Special Type Purchase Provision. The PPMO has prepared a draft act which is being examined by different ministries. Read complete story at http://www.tendersontime.com/blog-detail/new-procurement-act-end-hassles-pes-5.php