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Sunday, 24 July 2016

Finance ministry completes amendments to tender law

The finance ministry completed key amendments to the tender law to bring it in line with “Egypt’s current economic situation” and allow for better control of government spending, Finance Minister Amr El Garhy told Al Masry Al Youm. The amendments include articles specifying the training required for employees tasked with purchasing and contracting in the government’s administrative units, applying the tender law to funds and private accounts of administrative units, as well as loans or grants obtained from international agreements. Additionally, the amendments allow for renting movables in cases where buying is financially unnecessary, as well as two-part tenders, and direct tasking of investment projects proposed by national or international normal or exceptional figures complete with funding.

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