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Barbados government overhauling procurement process Caribbean360.com
-->BRIDGETOWN, Barbados, Thursday June 17, 2010 – The Barbados domination is moving swiftly to overhaul its procurement process - a move that will eliminate over pricing of bids, lengthy delays in obligation execution and reduced productivity.
Minister of Economic Affairs, Empowerment, Innovation, Trade, Industry and Marketing, Dr David Estwick, has announced plans to speed-up this process under a Procurement Modernisation Project.
Noting that plain procurement accounted for 4.1 per cent of the island's Gross Domestic Product (GDP), the Economic Affairs Clergywoman said this represented a significant proportion of government's annual expenditure.
Dr Estwick added that anti-competitive practices such as rate fixing, market division, bid rotation and other forms of collusion, were not only counter-productive to government's expenditure objectives, they also led to over-spending, the expression of poor goods and services to the public and other procurement inefficiencies.
