E-system in effect to make public procurement transparent

Kathmandu, March 13: The Public Procurement Monitoring Office and Commercial Bank of ‘A’ Category signed a Memorandum of Understanding Sunday to bring the electronic procurement system to effect.

Secretary at Public Procurement Monitoring Office Ramesh Kumar Sharma and and the Chiefs of ‘A’ category Commercial Banks signed separate Memorandum of Understandings, amid a programme organized here on Sunday.The system, also known as National Electronic Government Procurement (EGP), is expected to make public procurement more transparent by making bidding process simple and easy.

Secretary Sharma shared that the public procurement works being carried out under the Nepal Drinking Water Corporation, Department of Irrigation, Department of Local Infrastructure Development and Agricultural Roads (DOLIDAR) would be put in accordance with the system in first phase.

According to the newly-launched system, the public procurement monitoring office accepts bidding once the commercial firms or contractors involved in any tender process roped in banking system giving all necessary information to this effect.

The system has been put in place so as to ease the works of Public Procurement Monitoring Office, ‘A’ category commercial banks and contractors.