Tuesday, 16th July 2024

St Kitts and Nevis to bring Procurement Act to safeguard national treasury

The government is planning to bring a new procurement act to the Island to protect the government treasury from mismanagement, which the Attorney-General (AG) Garth Wilkin recently announced.

Thursday, 21st December 2023

St Kitts and Nevis: Govt plans to bring Procurement Act to safeguard national treasury
St Kitts and Nevis:  The government is planning to bring a new procurement act to protect the government treasury from mismanagement. The announcement was recently made by the Attorney-General (AG) Garth Wilkin.

To protect the country's financial integrity, the government aims to secure citizens' taxes and shield the government treasury by introducing the Procurement Act on the Island.

AG mentioned that between 2015 and 2022, the government treasury was mismanaged and given into the wrong hands. By introducing this act, the government expects a consistent halt to these unfair practices.

AG Garth Wilkin, during the 2024 Budget debate, which was held on December 18, 2023, took the reference from the incident that saw the payment of US $2 million or EC $5.4 million to one man over 18 months by the St. Kitts Electricity Corporation (SKELEC) Ltd.

“It won’t happen again. Persons will have to bid for that, and we need procurement, Madam Speaker, because you know what procurement will help that,” said AG Wilkin.

He also explained the advantages of the Procurement Act and how it would help curb malpractices against the country and people's taxes.

In addition, the attorney-general expressed that the government, led by Prime Minister Dr. Terrance Drew will insist on getting more value for money, and a vital Procurement Act will reinforce this. This draft legislation of the Procurement Act is anticipated to be presented by early 2024. He further emphasized that the act's regulation and upbringing show the government's instance in bringing financial stability to the country and ensure transparency, accountability, as well as fair regulation in the government procurement procedure.

This act would bring consistency and efficiency in maintaining the country's financial resources. It would represent the working of the government in an optimistic way in society, setting the stage for sustainable economic growth and development in the country.