Ministry reviews reference prices on govt projects

Breaking News November 15, 2017 11:46

By The Nation

The Finance Ministry is to review reference prices for government bidding projects, with an aim to save funds in its annual budget.



Finance Minister Apisak Tantivorawong said on the sideline of the Asean Countries Public Procurement Knowledge Exchange Forum hosted by World Bank on Wednesday that he had assigned officials for this task.

He said e-bidding for government projects over the past three years could have saved up to Bt90 billion, or 10 -17 per cent of current reference price methodology.

“So I think we may be able to lower our reference prices for future bidding projects,” said Apisak.

Government agencies can not implement investment projects if bidders propose investment costs worth more than the reference price set by the government.

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