Finance ministry relaxes ban on global tender enquiries of Rs 200 crore and below


The government has allowed global tenders to be floated for amounts under Rs 200 crore for supplies needed for health infrastructure or the manufacture of Covid-19-related materials. So far, only local suppliers could participate in such tenders.

The finance ministry said it would make this exception for projects involving health infrastructure or the manufacture of Covid-related materials.

The relaxation would be valid till October 31, and would be subject to the approval of Secretary (coordination) at the cabinet secretariat, the expenditure department under the finance ministry said in a memorandum dated June 11.

On Friday, the ministry extended till the end of October the exemption on Covid-related medical supplies from additional scrutiny on public procurement of goods and services from countries sharing a land border with India.

“Apart from medical equipment, government agencies who are involved in strengthening the health infrastructure/making efforts to fight with Covid-19 may also require manufacturing Covid-19 items/equipment,” the memorandum on tenders said.

In May last year, to spur business for micro, small and medium enterprises as part of the Atmanirbhar Bharat package, the government had banned public procurement of goods and services of up to Rs 200 crore from abroad.



Source link

Latest

Covid-19 vaccine: Time to test Covishield-Covaxin mix for immune response against D variant

The puzzling question that would arise in most minds is as to how a vaccine that produces less antibodies is more protective against...

How Do I Choose the Best Overnight Diapers for Adults? 

Urinary incontinence is a problem affecting millions of people worldwide. Unfortunately, many try to keep the condition secret. It is because of the stigma...

The Benefits of Travelling around globe

We all crave the thrill of a new adventure, and travel allows us to tap into that desire. Whether it's an exciting new location...

Government cuts import duty on crude palm oil to 10%

The government on Tuesday reduced basic customs duty on crude palm oil to 10 per cent, which will help bring down the edible...

Cali takes on the mantle of Colombia’s ‘capital of resistance’

In large white letters, the names of anti-government protesters killed in recent weeks are written on a main street in the Colombian city...