Construction Entrepreneurs Federation Chairman Pandey Expresses Confidence in Public Procurement Act Amendment

Kathmandu. Chairman of the Federation of Construction Entrepreneurs of Nepal, Nicholas Pandey, has expressed confidence that the second amendment to the Public Procurement Act will benefit not only construction entrepreneurs but the entire state machinery. Speaking at a program organized to mark 100 days in office, Chairman Pandey stated that the reforms in the act will help invigorate the country's economy. According to Chairman Pandey, construction entrepreneurs also had a share in the low capital expenditure in the past. He said that due to the tendency to bid up to 40 percent below the tender process, the state's spending capacity was reduced proportionally, which slowed down the economy as sufficient money did not enter the market.

To solve this problem, he claimed that the new act has implemented 'average bidding' and 'rated criteria' for complex tasks, which will now increase the state's spending capacity. Pandey alerted that delays caused by obstacles at the project site such as tree cutting, environmental impact assessment (EIA), and relocation of electricity poles are causing billions in losses to the state.