Transparency in government procurement

The said policy that has been introduced some time back is yet to find its full implementation because a few top ministries are opposed to it, ostensibly because they see 'problems' in it.

Regrettably, one of the reasons that casts us in the ranks of the corrupt is the unbridled corruption in public expenditure. It hardly needs mention that our public expenditure procedures have been fraught with so many loopholes and scope for manipulation, which ultimately cost us almost a staggering three percent of our GDP. Just to consider an estimate that reduction in corruption by thirty-five percent in public purchase could result in doubling the annual GDP is in itself mind-boggling. Imagine the dividends if corruption in this area could be totally eliminated!

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We on our part find the Public Procurement Regulations, 2003 timely, and, whatever be the extraneous compulsions behind its formulation, with several clear merits.

First, it will, hopefully, rid the system of lottery where a most odious practice of 'refrigeration' was resorted to, to pick the favoured bidders.

Another significant aspect of the new procedure is that it seeks to terminate the central role of the DFP, a role that was for most part full of opaque procedures that festered on the devious deeds of certain coterie at the DFP, which proved to be totally against the letter and spirit of competitive bidding. The result was poor quality work and cost and time overruns.

We also believe strongly that devolution of financial powers for revenue and development expenditures under the new procurement regulation formula will allow unhampered implementation of development projects. An oversight body in the form of Central Procurement Technical Unit to ensure rigorous implementation of the new procedures is a good arrangement also.

There are urgent compulsions that merit quick implementation of the new procurement system. Not only will it confer large financial dividends on us it will also help in expurgating the negative image about Bangladesh while at the same time ensuring overall invigorated development financing.