Vice President Dr. Bharrat Jagdeo on Thursday said the government will soon introduce a prequalification system to better monitor the execution of projects.
The Vice President, for weeks, has been highlighting the incremental changes instituted to help strengthen the public procurement system. At this week’s press conference, he explained the prequalification system is another venture meant to guarantee sound public spending.
“When a paper goes to Cabinet, often, the Cabinet doesn’t see all of the work that people [contractors] have in different agencies.
“We’re now going to introduce a prequalification system, maybe starting from a threshold of say $50 million and above,” the Vice President said.
How would this work?
Well, Jagdeo explained that contractors will be prequalified to work up to a certain threshold, say $500 million, for example. If a contractor at that threshold already has a $400 million contract, it is not likely that the same contractor would get a $300 million contract because it would take that contractor beyond the threshold.
“That is what we are starting to introduce now, a countrywide prequalification system that will match capacity,” Jagdeo said.
The new system is likely to be monitored through a centre or website which, according to Jagdeo, will allow the cabinet to have a rounded understanding of the competency of contractors.
And he posited this venture is another mechanism that helps upgrade the local procurement system.
