New Procurement Act to end hassles for PEs

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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. Read complete story at http://www.tendersontime.com/blog-detail/new-procurement-act-end-hassles-pes-5.php