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Parliament to discuss tenders, auctions draft law within days - Daily News Egypt

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Parliament to discuss tenders, auctions draft law within days

Parliament decides percentage of local product within government contracts shall not be less than 15% to encourage local producers to invest, expand projects


The Egyptian Parliament will hold a general session to discuss and vote on the tenders and auctions draft law within a few days.

Yasser Omar, representative of parliament’s planning and budget committee, said that the committee approved the draft law and sent it to parliament’s general committee to set a date for a voting session.

Omar added that the planning and budget committee sent its observations and amendments to the draft law to the Ministry of Finance and parliament’s general committee to be discussed during the coming general session.

Parliament decided that the percentage of local product within government contracts shall not be less than 15% in order to encourage local producers to invest and expand their projects in the coming period.

Meanwhile, President Abdel Fattah Al-Sisi ratified this week a new law to prefer local products in government contracts.

“We have demanded that the percentages stipulated in the new law be close to those mentioned in the current draft law to avoid any contradictions between the two laws,” Omar said.

The new law obliges the administrative authorities to apply Article 4 of Law 5 of 2015 regarding the preference of Egyptian products in government contracts. The products that meet the required Egyptian industrial component shall be considered the lowest price, as long as the increase in its price does not exceed 15% compared to the lowest unfilled bid.

The tenders and auctions draft law does not only concern pricing standards of various contracts, but also the evaluation of contracts to reach a balanced deal between the parties, Omar said.

Article 24 of the draft law stipulates that the bid evaluation committee shall be obliged to exclude the lowest price bid if its price is extremely low compared to other bids to ensure the execution of the project in accordance with the declared specifications.

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https://dailynewsegypt.com/2018/06/27/parliament-to-discuss-tenders-auctions-draft-law-within-days/
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