(PTI)
The finance ministry on Friday released revised guidelines on public procurement and project management which outline innovative rules for faster, efficient and transparent execution of projects. The guidelines also permit alternative methods for selection of contractors, which can improve speed and efficiency in execution of projects.
In appropriate cases, quality parameters can be given weightage during evaluation of the proposal in a transparent and fair manner, through a Quality cum Cost Based Selection (QCBS) as an alternative to the traditional L1 system, the ministry said. Finance Secretary and Secretary Expenditure, T V Somanathan released the guidelines to usher in reforms in public procurement and project management here, a finance ministry statement said. The formulation and release of these guidelines are part of the continuous process of review of existing rules and procedures.
