THE Finance Ministry and the National Procurement and Tender Administration Board are gearing to host today, at the Guyana International Conference Centre at Liliendaal, East Coast Demerara, a massive procurement symposium targeting local contractors, consultants, and suppliers of goods and services.

A notice issued by the Finance Ministry says the “procurement symposium provides a forum for comprehensive information sharing in relation to procurement laws, regulations and procedures, allowing for greater levels of fairness, transparency and accountability.”

The National Procurement and Tender Administration Board (NPTAB) was established in accordance with Section 16 (1) of the Procurement Act 2003, which came into effect in November 2004, when the Finance Minister signed the Order.

The objective of the NPTAB, located within the Finance Ministry, is to facilitate establishment and implementation of a regulatory environment conducive to transparency, economy, efficiency, openness, fairness, and accountability in public sector procurement.

Among the functions of the tender board, as directed by the Procurement Act, is processing of all procurement above the thresholds laid down for the ministerial, regional, departmental and district tender boards. This board would receive and publicly open bids, nominate evaluation committees, review evaluation reports, and prepare memoranda for the attention of Cabinet.