The Ministry of Finance set forward amendments of procurement and property regulation

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According to the amendments approved by the Ministry of Finance, the limited budget for service and property purchase has been raised to 450 mill birr.

In the modified regulation the limitation of construction work acquisition, the previous budget restricted to 84 mill birr has surged to 600 mill birr.

For Limited auction, procurement of construction work materials heightened from 6 mill birr to 15mill birr, for material purchase to 3.75 mill birr, consultancy service raised to 2.25 mill birr and for other non-consultancy services 300,000 birr respectively.

“The previous regulation had some lagging effects, which slowed down the process. This complicates property management and does little to improve their experiences and enhance how the administration works together through procurement transformations that can create opportunities to support each other’s goal,” mentioned Ato Setegn Gelan, communication head at Public Procurement and Property Administration Agency.

The budget for pricing was revised to 1 mill birr for construction work purchase, material purchase to 400,000 birr, consultancy service to 240,000 birr, and for non-consultancy services up to 300,000 birr.

As stated in the amended proclamation, government property procurement bid advertisement exceeds 50,000 birr. Organizations are requested to dispose of unused vehicles in the current fiscal year without any limitation on pricing.

The proclamation stated for any payment proceed by the Public Procurement and Property  Administration Agency the duration period is improved to 45 days for approval and budget release from the Ministry of Finance.