Govt raises procurement powers of state-owned, autonomous bodies

The government has increased the financial powers of government corporations, autonomous and semi-autonomous bodies for procuring works, goods and equipment, and hiring consultancy services.

The financial authority of officials concerned has also been enhanced to approve procurement proposals for self-financed projects implemented by statutory bodies.

The Finance Division took the decision to expedite project implementation and align procurement practices with the Public Procurement Act and Rules.

A circular signed by Finance Secretary Dr Md Khairuzzaman Mozumder was issued recently and came into effect immediately.

According to the circular issued by Budget Wing-2, Branch-14, the government has revised two previous circulars issued in 2015 and 2016 and delegated higher financial powers at the rates specified in an annexure.

The enhanced powers apply to ministries and divisions, boards of directors, chief executives and project directors of government corporations, autonomous and semi-autonomous bodies for the procurement of works, goods, machinery and equipment, as well as consultancy services. Similar powers have been enhanced for approving procurement proposals under self-financed projects of statutory bodies.

However, the Finance Division stipulated that adequate allocations must be available in the approved development or operating budget.