New Delhi, Nov 30 (IANS) The government Wednesday unveiled the draft of a new policy that will help bring transparency in public procurements through open competitive bidding.
The bill is intended to regulate public procurement by all ministries and departments of the central government, central public sector enterprises, autonomous and statutory bodies controlled by the central government and other procuring entities, the finance ministry said in a statement.
‘Objectives of the bill are to ensure transparency, fair and equitable treatment of bidders, promote competition and enhance efficiency and economy in the procurement process,’ it said.
The government has released the draft of the bill and sought comments from stakeholders and public by Dec 24.
The bill contains broad principles and will be supplemented by rules. The bill also provides for a grievance redressal mechanism and for penalties for offences.
Currently, there is no overarching legislation governing public procurement by the central government and central public sector enterprises. The General Financial Rules, 2005 govern procurements made by the central government. Some ministries/departments have specific procedures to supplement these rules.
Prime Minister Manmohan Singh, in his Independence Day address this year, had promised to introduce a Public Procurement Bill in Parliament to ensure transparency and curb widespread corruption in government procurement.
