{"id":31799,"date":"2023-12-28T23:35:13","date_gmt":"2023-12-29T04:35:13","guid":{"rendered":"https:\/\/projectcalls.com\/dev?p=31799"},"modified":"2023-12-28T21:12:03","modified_gmt":"2023-12-29T02:12:03","slug":"benefits-will-far-outweigh-the-challenges","status":"publish","type":"post","link":"https:\/\/projectcalls.com\/dev\/benefits-will-far-outweigh-the-challenges\/","title":{"rendered":"Benefits will far outweigh the challenges"},"content":{"rendered":"

Trinidad and Tobago<\/p>\n

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AS Trinidad and Tobago approaches six months since the full proclamation of the Procurement Act, procurement regulator Beverly Khan acknowledges that while there have been some teething problems, she believes that the benefits will far outweigh the challenges.<\/p>\n

Delivering the feature address in a webinar hosted by the Trinidad and Tobago Transparency Institute (TTTI) on Tuesday Khan stated that full proclamation of the Act represents an important milestone in this country\u2019s development, and offers us the best opportunity to establish a fundamentally new and different culture aimed at driving public sector performance rooted in good governance principles.<\/p>\n

\u201cThese teething problems are a normal part of the development process especially where the change is so significant. However, the benefits to Trinidad and Tobago as the system progresses and then matures, and the potential sustainability of those benefits far outweigh these early challenges,\u201d she said.<\/p>\n

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Khan said as taxpayers we are all keen to ensure that public funds are effectively utilised by the government in furtherance of the country\u2019s development and the well-being of all citizens.<\/p>\n

\u201cThe current system is still in its early stages but it is here to stay and at the OPR (Office of the Procurement Regulator) we accept that there are issues to address and efficiencies still to be gained as we gather more experience in implementation,\u201d Khan said.<\/p>\n

Khan said the OPR is committed to building effective partnerships.<\/p>\n

According to the World Bank governments around the world spend an estimated US$49.5 trillion in public contracts every year, Khan said.<\/p>\n

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Khan said here in T&T the OPR estimates that last year the value of public contracts in the central government alone accounted for approximately $9 billion which represented four per cent of GDP and 17 per cent of government expenditure.<\/p>\n

\u201cWe know that this figure will be far higher when public contracts awarded by state enterprise and statutory bodes are taken into account. If indeed the total value were to be in the range of 15 to 22 per cent of GDP then we can easily have $30 to $40 billion being expended in the system on an annual basis,\u201d she said.<\/p>\n

\u201cOver the next full year of operations under the Act the OPR will collect the data that will allow for more in-depth analysis of the value and the nature of public contracts and the performance of the system using key indicators aligned with the objects of the Act,\u201d Khan said.<\/p>\n

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Khan said any analysis of the performance of the procurement system must be juxtaposed against performance on the international corruption perception index.<\/p>\n

Last year T&T recorded a score of 42 out of 100 on the Corruption Perception index and ranked 77 out of 180 countries.<\/p>\n

\u201cBased on the data used to compile the CPI, the Act has the potential to impact the CPI score in areas of improving access to information on public procurement, reducing bureaucracy, improving efficiency, offering redress, providing protection from victimisation, and ultimately establishing strict penalties for breached of the Act,\u201d she said.<\/p>\n

The Public Procurement and Disposal of Property Act was fully proclaimed on April 26 and aims to reform the procurement laws of Trinidad and Tobago in keeping with the principles of good governance, such as accountability, transparency, integrity and value for money.<\/p>\n

more\u00a0<\/a><\/div>\n<\/div>\n<\/div>\n
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Image: pexels-pixabay-2<\/div>\n
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Trinidad and Tobago AS Trinidad and Tobago approaches six months since the full proclamation of the Procurement Act, procurement regulator Beverly Khan acknowledges that while there have been some teething…<\/p>\n","protected":false},"author":1091,"featured_media":31800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[250],"tags":[73,71,137],"class_list":["post-31799","post","type-post","status-publish","format-standard","has-post-thumbnail","category-articles","tag-legislation","tag-procurement","tag-trinidad-and-tobago"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2023\/12\/pexels-pixabay-209224-scaled-e1703815769509.jpg?fit=1024%2C683&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6u9Qa-8gT","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":32277,"url":"https:\/\/projectcalls.com\/dev\/contractors-want-laws-to-regulate-industry\/","url_meta":{"origin":31799,"position":0},"title":"Contractors want laws to regulate industry","author":"Mayra Bonilla Lopez","date":"January 25, 2024","format":false,"excerpt":"Trinidad and Tobago President of the Trinidad and Tobago Contractors Association, Glenn Mahabirsingh, said yesterday that the body would be renewing its call for contractor licensing\u00a0and registration\u00a0legislation in the new year. 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Responding to questions from Guardian Media on how operations\u2026","rel":"","context":"In "Articles"","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/10\/Law-scrabble-tiles-CQF-Avocat-Pexels-e1649276824460.jpeg?fit=1024%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/10\/Law-scrabble-tiles-CQF-Avocat-Pexels-e1649276824460.jpeg?fit=1024%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/10\/Law-scrabble-tiles-CQF-Avocat-Pexels-e1649276824460.jpeg?fit=1024%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/10\/Law-scrabble-tiles-CQF-Avocat-Pexels-e1649276824460.jpeg?fit=1024%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":24136,"url":"https:\/\/projectcalls.com\/dev\/pm-procurement-legislation-coming-soon\/","url_meta":{"origin":31799,"position":2},"title":"PM: Procurement Legislation coming soon","author":"Mayra Bonilla Lopez","date":"September 15, 2022","format":false,"excerpt":"Trinidad and Tobago \u00a0 Despite the recent call by several stakeholders for the proclamation and implementation of the Public Procurement and Disposal of Public Property Act, Prime Minister Dr Keith Rowley says there is going to be \u201ca little delay\u201d in its execution. 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Althoughs the Public Procurement and Disposal of Public Property Act, 2015 was assented to on\u2026","rel":"","context":"In "Articles"","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2020\/07\/Legislation-gavel-sign-Alpha-Stock-Images-The-Blue-Diamond-Gallery.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2020\/07\/Legislation-gavel-sign-Alpha-Stock-Images-The-Blue-Diamond-Gallery.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2020\/07\/Legislation-gavel-sign-Alpha-Stock-Images-The-Blue-Diamond-Gallery.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2020\/07\/Legislation-gavel-sign-Alpha-Stock-Images-The-Blue-Diamond-Gallery.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":20645,"url":"https:\/\/projectcalls.com\/dev\/imbert-new-procurement-law-lets-disgruntled-bidders-go-to-court\/","url_meta":{"origin":31799,"position":4},"title":"Imbert: New procurement law lets disgruntled bidders go to court","author":"Mayra Bonilla Lopez","date":"February 10, 2022","format":false,"excerpt":"Trinidad and Tobago ANY bidder for a public contract who is dissatisfied with the outcome of the bid will be able to challenge it in court under new procurement rules, Finance Minister Colm Imbert told the House of Representatives on Friday. He moved to approve regulations which give effect to\u2026","rel":"","context":"In "Articles"","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/08\/pexels-cytonn-photography-955394-scaled-e1644524676129.jpg?fit=1025%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/08\/pexels-cytonn-photography-955394-scaled-e1644524676129.jpg?fit=1025%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/08\/pexels-cytonn-photography-955394-scaled-e1644524676129.jpg?fit=1025%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/08\/pexels-cytonn-photography-955394-scaled-e1644524676129.jpg?fit=1025%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":34784,"url":"https:\/\/projectcalls.com\/dev\/joint-consultative-council-where-is-procurement-regulators-annual-report\/","url_meta":{"origin":31799,"position":5},"title":"Joint Consultative Council: Where is Procurement Regulator\u2019s annual report?","author":"Michele Marius","date":"June 20, 2024","format":false,"excerpt":"Trinidad and Tobago The Joint Consultative Council (JCC) is concerned about Procurement Regulator Beverly Khan\u2019s failure to issue an annual report as required by section 24 of the Public Procurement and Disposal of Public Property Act, which was operationalised in April last year. 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