Public Entities Must Be Ready

Government intends to proclaim the Public Procurement and Disposal of Public Property (No. 2) Regulations, 2021 Act in March, and the Minister of Finance, Colm Imbert, said procuring entities will have to bring themselves up to speed as they expect full compliance. As he piloted debate on the Bill in the Senate on Tuesday, he said the Ministry has asked entities within the Government system not to create additional bodies to manage the responsibilities with respect to this legislation, as the question of additional human resources was raised. Minister Imbert said if public entities aren’t ready there will be serious consequences. The Bill seeks to provide for public procurement and the disposal of public property in accordance with the principles of good governance, namely accountability, integrity, transparency, and value for money and the establishment of the Office of Procurement Regulation.