Ministry of Finance has amended the state procurement policy to allow projects to be contracted even if only one bid is submitted.
The change to the state procurement policy was brought under the Third Amendment to the Public Finance Regulations, which was published on the Government Gazette on July 4. The amendment states projects opened for tender can be contracted to a bidder without requiring multiple bids to be submitted. However, the bid must fulfill the eligibility criteria for consideration and present a price that is reasonable.
The amendment also states the bidding duration has been set as 7 working days, instead of 7 calendar days. It also stipulates a duration of 5 days must be provided to submit any complaints regarding bid evaluation and awarding. The contract for the project cannot be signed without resolving all pending complaints regarding the bidding process.
Furthermore, the amendment states a 7-member procurement policy board must be formed by the respective state institution to oversee the procurement of projects worth over USD 324,000. Procurement of smaller projects can be overseen by the procurement section of the respective state office or institution.
Meanwhile, the amendment also states national and corporate organisations cannot be awarded a contract without a bidding process. It also states retainers hired on a contract basis must only be paid for the work carried out by them.
Other changes brought to the Public Finance Regulations include increasing the bid security amount from USD 16,000 to USD 32,000, setting a limit on the number of projects awarded to one company and facilitating the payment of project fees through the online portal, Bandeyri Pay.