The government is likely to enhance the existing limits for spending development and non-development funds to procure goods and services by different ministries and agencies between 40 and 60 per cent. Officials of the finance ministry said that the decade-old guidelines on financial powers for development projects and state purchases are set to be revised for allowing more spending by ministries and agencies.
The updated guidelines will be finalised by next month as a 12-member committee composed of officials from ministries of finance and planning and the office of the comptroller and auditor general are now busy shaping the new draft.
‘We are going to propose a big leap ranging from 40 to 60 per cent on delegation of financial powers for public purchases and project implementations as the current ceilings on financial authorities date back to 2004 have lost their relevance,’ a member of the committee told New Age.
Ranjit Kumar Chakrabarty, an additional secretary of the finance division under the finance ministry, has been made convener of the committee.
The committee, beyond proposing changes on the financial delegations, has also been asked to make recommendations on amending the existing processes and procedures of development projects which are often cumbersome and time consuming in their ways of getting final approvals.
Currently, ministries alone can approve development and non-development project each costing up to Tk 25 crore. The similar financial power also applies to procuring goods.
The ministries have to send proposals to cabinet committee on purchase if the project cost exceeds Tk 25 crore as far as public purchase proposals are concerned.
The boards of directors of corporations or autonomous bodies now enjoy financial authority up to Tk 10 crore to Tk 12 crore to implement any development or non-development projects.
The financial powers now being enjoyed by corporations, autonomous bodies and ministries on awarding contracts for procuring consultancy services are between Tk one crore and Tk five crore.
The planning ministry has long pressed the finance ministry to raise the limits of financial powers of public offices to ensure faster implementation of annual development programme.
The officials concerned at the finance ministry, however, said the revised guidelines would be followed by rigid and strict regulations to check irregularities and corruption.
They said their proposals will include new procedures for tendering and quotation options on procuring goods and services by ministries and agencies of the government to check misappropriation by dishonest officials.
-With New Age input
