Gov’t to introduce prequalification system for contractors – Jagdeo
“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.