A new bill is before the National Executive Council to revise the operations of the Central Supply and Tenders Board.
Finance Minister, James Marape, said this is to tighten the procurement process so contracts are tendered to contractors who can deliver projects on time.
Minister Marape said the policy will redefine the operations of the CSTB. Currently there is no policy or Act between contracts tendered at the three levels of Government, however, all will fall back and comply with the Public Finance Management Act.
The Finance Minister said the policy will now create boundaries and identify the level of contracts depending on the total funding allocated for each project. As the Minister responsible for the Central Supply Tenders Board, Minister Marape made a bold statement yesterday that the bill is to sharpen Government procurements.
Finance Secretary Ken Ngangan, says CSTB has received criticism over the years on its procurement and tender process, but he says with the bill to be passed in 2018, contractors will be closely monitored.
The Procurement Bill is expected to be presented to parliament during the first 2018 sitting.