Public finance rules amended to allow single source procurement
Ministries overseeing exempted projects must regularly monitor their progress and report updates to the finance ministry as required by the new regulations.
The finance ministry has amended public finance regulations to allow the procurement of goods and services without competitive bidding or from a single source for the next two years.
According to the amendment, published in the government gazette on Wednesday, single source procurement without competitive bidding will be permitted only for projects that enhance basic needs and quality of life for the general public, as well as special projects related to security services.
Such projects may be awarded under single source procurement following a proposal from a state office to the finance ministry, in accordance with a procedure determined by the ministry, the cabinet, or a cabinet committee.
The amendment also requires a cabinet committee to define the types of projects that fall under initiatives aimed at improving public quality of life and security-related projects.
Under the new regulation, the minister of finance has the authority to exempt certain projects from bid security, performance guarantees, or other security requirements. This applies to projects submitted to the finance ministry by government offices under public sector investment programmes.
Ministries overseeing exempted projects must regularly monitor their progress and report updates to the finance ministry as required by the new regulations.
