Nepal has long been plagued by a culture of delayed development projects, low-bid contracts, and years-long work stagnation, resulting in a significant waste of state investment.
In a bid to address these issues, the country has introduced a new era in public procurement, marking a significant shift from the traditional ‘low bidding’ system to a more modern ‘e-marketplace’ and ‘reverse auction’ approach.
This change aims to bring greater transparency and efficiency to the procurement process, ultimately leading to timely completion of development projects and better value for the state’s investment.
The new system is expected to reduce the likelihood of contracts being awarded to the lowest bidder, only to see the project stall for years, causing frustration among citizens.
By adopting a more modern and technology-driven approach, Nepal hopes to overcome the challenges that have hindered its development projects for so long and ensure that public funds are utilized more effectively.
Replies
No replies yet. Log in to be the first to reply!