Salam and dear all,
The government’s effort to take the economy out of the current recession includes a series of reforms in construction procurement and allocating a sum of RM67billion to fund 2 stimulus packages (RM7 billion and RM60 billion respectively). On the former, efforts related to construction procurement currently under consideration and/or are being implemented include:
- Improvement in efficiency and quality of spending through competitive bidding
- Cutting back on discretionary expenditure
- New ways to monetise Government assets which include land, buildings and facilities
- Liberalization of rules and regulations relating to the award of contracts and procurement of services such as: 1) quotation limit for goods and services is now increased from RM200,000 to RM500,000, 2) Class F contractors awarded projects under the stimulus package are now eligible to apply for payment to commence work amounting up to 10% of the contract value or a maximum of RM20,000, whichever is lower, 3) appointment of consultants and approving consultancy fees for development projects, studies pertaining to physical and non-physical projects as well as environment and land surveys works has been delegated to procurement boards and quotation committees at the respective ministries and agencies, 4) tender advertisement period shortened to 14 from 21 days previously, 5) setting up of a Project Management Unit (PMU) at the finance ministry to manage the day-to-day operational issues of project implementation.
The Finance Ministry secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah said that the economy may see more positive growth and recovery during the 4th quarter of 2009 and early next year respectively.
Source: http://biz.thestar.com.my/news/story.asp?file=/2009/7/20/business/4346779&sec=business, 20th July 2009.
Wassalam.
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