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Economic cabinet raises the value of instruments certified by the private banks to 25 million dinars
19/07/2012 0:49
Venom glands - the morning decided the Economic Committee in the Council of Ministers may amend its decision on the establishment of ministries and government agencies to accept instruments issued by private banks $ 25 million up to a maximum of transactions procedural rather than 5 million dinars. came during a meeting of the Committee on Economic headed by Deputy Prime Minister and President of the Economic Commission Rose Nuri Shaways. Learned economic morning from a source authorized in the Commission that the meeting approved the amendment to the Economic Commission, which provided for (by the ministries and government agencies to accept instruments certified issued by private banks at $ (25) million dinars up to a maximum of transactions of Procedure) after it was (5) million dinars . told the source authorized that the meeting approved the draft instructions and implementation of government contracts and submit them to the cabinet for approval, containing the new instructions in order to ensure transparency in the contracting procedures was addressed in the draft new instructions for the assignment of the presidency and membership of committees of the opening and analysis to the staff of advanced degrees in the career ladder to the opposite of the instructions in force, was shortened sentences based on the documentary in a clear and accurate make it easier for contracting parties to easily identify the procedures for the documentary based on the reverse instructions in force. Were members of a special separate deal with contracts for advisory services and methods of contract where the requirements and conditions of the contract within this style, in addition to what is stated in the above came the new regulations new provisions were not present in the Help window or dealt with the impasse that existed in the provisions of the Help window has been exemption sober companies and public companies to purchase the tender documents and submit them for free. Was set special conditions in the case of receipt of a single tender in direct advocacy and accept his analysis and assignment, was also under the project raised for the upper limit for the declaration and which were (60) days in the Help window and become open is determined by the importance of the contract and the discretion of the President on the contract. The source said that he been given permission to hand the contract to extend the advertising twice after it was once was the text to determine the origin of the goods and materials processed, and give authority to the head on the contract acceptance of insurance by less than 1 per cent. The meeting also decided to exempt public companies and sober of Bid Bond. Was to provide for exemption from the insurance contract methods, except the initial style of public tender. And allow for public companies and foreign companies to submit the performance bond within (21) days from the date of signing the contract on the contrary of the instructions window that necessitated the provision of the performance bond before signing the contract. The source pointed out that the Economic Committee decided to hold a special meeting to discuss the banking reality of the private sector in terms of the (open letters of credit, bank guarantees and government deposits with private banks) will be determined later.
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