House Budget Committee begins discussing Auctions and Tenders Act

The House of Representatives’ Budget Committee has begun reviewing the Auctions and Tenders Act on Wednesday, committee member Silvia Nabil tells Al Mal. The bill, which was overhauled by the Finance Ministry back in July, would decentralize tender procedures and streamline the selection process for winning bids. It will also promote two-stage tenders to give the government more options when choosing contractors and suppliers, while also curbing spending by placing restrictions on the amount bodies can pay out in a tender.