STC allowed to procure goods up to Rs. 50 m sans tenders

Saturday, 13 June 2020 01:20 - - {{hitsCtrl.values.hits}}

Cabinet approval given to continue procurements without competitive bidding process for one year

Cabinet has approved allowing the State Trading Corporation (STC) to procure goods or machinery for the public sector up to Rs. 50 million, without any tender procedure. The decision, which was made on Wednesday (10 June), was announced by Cabinet Spokesman Bandula Gunawardena.

“Cabinet approval has been granted to procure goods or machinery for public sector enterprises up to Rs. 50 million from State Trading Corporation without following procurement procedures. The Cabinet approval was granted to extend this procedure for one year,” he said.