Minister of Finance Ibrahim Ameer has stated the new procurement guideline formulated by the administration will close the doors for corruption in State-Owned Enterprises (SOEs).
Speaking at the ceremony held to inaugurate the new procurement guideline and job classification framework of SOEs, Finance Minister Ameer said the new guideline includes the minimum level of procedures that must be followed by all SOEs with regards to procurement, in order to effectively eliminate the chances of corruption. He said the administration aims to establish a transparent and fair procurement system to be followed by SOEs and state institutions.
Speaking further, Minister Ameer said the administration is currently in efforts to dissolve 17 companies that have no productivity and are incurring losses to the state every year. He said the policy of the administration is to facilitate efficient and productive running of SOEs, rather than increasing the number of companies.
The newly formed procurement guideline includes the specific procedures to be followed by SOEs when awarding contracts for procurement. It also includes a specific procedure to be followed when undertaking emergency expenditure.
Meanwhile, the newly enacted job classification framework describes the standards to be followed when hiring new staff and granting promotions. The framework aims to establish a fair, consistent system in managing employees.