- Every authority delegated with the financial powers of procuring goods in public interest shall have the responsibility and accountability to bring efficiency, economy, transparency in matters relating to public procurement and for fair and equitable treatment of suppliers and promotion of competition in public procurement.The procedure to be followed in making public procurement must conform to the following yardsticks :-(i)the specifications in terms of quality, type etc. as also quantity of goods to be procured, should be clearly spelt out keeping in view the specific needs of the procuring organisations. The specifications so worked out should meet the basic needs of the organisation without including superfluous and non-essential features, which may result in unwarranted expenditure. Care should also be taken to avoid purchasing quantities in excess of requirement to avoid inventory carrying costs;(ii)offers should be invited following a fair, transparent and reasonable procedure;(iii)the procuring authority should be satisfied that the selected offer adequately meets the requirement in all respects;(iv)the procuring authority should satisfy itself that the price of the selected offer is reasonable and consistent with the quality required;(v)at each stage of procurement the concerned procuring authority must place on record, in precise terms, the considerations which weighed with it while taking the procurement decision.
