Public procurement law to replace current system
Sri Lanka’s current public procurement system based on comprehensive National Procurement Guidelines issued in 2006/7 is being replaced by a new Public Procurement Law later this year, Public Finance Department sources said.
The country currently lacks a formal legislative basis for procurement. All government procurement are being carried out in accordance with Cabinet approved guidelines.
The Procurement Guidelines 2006, sets out various procurement methods, bidding procedures, and rules for awarding contracts.
The proposed new law is aimed at enhancing the effectiveness, efficiency and transparency in the public procurement system making it more accountable, streamlined and cost effective, an official of the department said.
This will be a fulfillment of International Monetary Fund conditions under its public reforms and management of public resources.
The authorities recognise that public procurement remains an area of governance weakness, with associated corruption vulnerabilities, despite attempts to improve its effectiveness. Reports of the Finance Ministry, the Auditor-General’s Department, and the Department of Management of Audit have indicated procurement malpractices and corruption that have led to inefficiencies and waste of scarce state resources.
A regulatory body will be established under the new law with necessary authority and competency for the modernisation of the legal framework, the official said.
Necessary action will be taken to design and operate a designated website containing information on all public procurement contracts above Rs.1 billion.
All public procurement transactions will be carried out under an e-Government Procurement System in accordance with recommendations made by the IMF, he said.
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