Connect with us

Business

Procurement Authority Urges Fair Procurement Processes

Avatar

Published

on

Procuring firms are required to adhere to the laws and regulations that govern the procurement process by the Public Procurement Regulatory Authority (PPRA).

The regulator said that procuring entities should provide detailed procurement requirements to prospective bidders such as eligibility.

It has received multiple complaints about procurement companies setting prohibitive restrictions as part of their tender assessment criteria in the bidding papers from both current and potential bidders in the insurance industry.

The PPRA noted that it is against the goals of Article 227 of the constitution for the tendering procedure to eliminate competition and fairness among bidders.

“We have noted that some procuring entities are requiring bidders to provide requirements that are prohibitive and not proportionate to the estimated cost of services being procured, “ read a statement by the regulatory body.

The authority also said that it had requested the help of the country’s insurance regulatory body, which has subsequently made any insurance it (IRA) has authorized eligible for bidding.

Additionally, it served as a reminder to all procuring bodies that they must provide detailed specifications for the commodities, labor, and services they are procuring, as well as assure fair and transparent competition among bids.

Enterprise Magazine is Owned by The Carlstic Group Ltd. Copyright © 2016—2024. Site Developed and Maintained by Carlstic