By BUUMBA CHIMBULUGOVERNMENT’S credit worthiness will be enhanced following the new procurement procedure of awarding contracts to suppliers, according to the Financial Analyst, Naylor Kopakopa.Mr Kopakopa explained that with prompt servicing of contracts by Government, its credit worthiness would greatly be improved and so shall the credit rating.He indicated that factors mentioned above would be responsible for the rate at which the Government can borrow money.He explained that with the new procurement procedure, the Government would not commit a down payment for a project it would not benefit from because of failure for a contractor to deliver due to lack of funds.“The government will therefore not forgo the down payment; there will be no need to release the down payment for a project that is unlikely to benefit the citizens.“The contractors will be required to be reasonable in their pricing as they will be certain that the payment for the contracts will be prompt, allowing […]
New procurement procedure to prop up Govt credibility – expert
