Gov’t to introduce prequalification system for contractors – Jagdeo

strengthen the public procurement system. At this week’s press conference, he explained the prequalification system is another venture meant to guarantee sound public spending.

“When a paper goes to Cabinet, often, the Cabinet doesn’t see all of the work that people [contractors] have in different agencies.

“We’re now going to introduce a prequalification system, maybe starting from a threshold of say $50 million and above,” the Vice President said.

How would this work?

Well, Jagdeo explained that contractors will be prequalified to work up to a certain threshold, say $500 million, for example. If a contractor at that threshold already has a $400 million contract, it is not likely that the same contractor would get a $300 million contract because it would take that contractor beyond the threshold.

“That is what we are starting to introduce now, a countrywide prequalification system that will match capacity,” Jagdeo said.

The new system is likely to be monitored through a centre or website which, according to Jagdeo, will allow the cabinet to have a rounded understanding of the competency of contractors.

And he posited this venture is another mechanism that helps upgrade the local procurement system.