Categorized | National News

New Procurement Bill Promised

The Bahamian government is changing the way people and businesses bid for government contracts.  This  was revealed yesterday by Finance Minister Peter Turnquest at a press conference held in The Office of the Prime Minister at Sir Cecil Wallace-Whitfield Center.

The government has introduced the opening of the E-Tendering and Supply registry, which will connect to the new Information and Communications Technology (ICT) system.  This system will align itself with the upcoming National Procurement Form under the public procurement act of 2018.

These changes are key steps  under the public financial management and performance monitoring reform project.  It will also provide more accountability and transparency as it relates to how transactions are conducted.

Emphasizing that the Free National Movement (FNM) is making good on their campaign promise as it relates to accountability, transparency and modernization to the country, Mr. Turnquest stated, “this initiative will lead a fundamental change in the way the government does business.

“Today, we announce in earnest the first steps in changing how persons bid for government contracts, purchases, otherwise known as procurement.”

As the government is a procurer of goods and services and spends $1.5 billion  to deliver these goods and services to The Bahamas, this new procurement process will strength the bidding process.

Early next year, a new procurement bill will be introduced for the consideration of Parliament, further explaining how this initiative will work.

Mr. Turnquest says  “this bill will call for the establishment of a fully digital platform and its intended electric registry system.”

The  new bill will provide for the establishment for a public procurement department, a public procurement board and importantly the appointment of public review tribunal to give recourse to people who believe that there have been injustices rendered to them during the tendering process.

In addition, the government anticipates that these measure will also increase competition and accountability leading to savings passed on to tax payers.

Written by Jones Bahamas

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