Punjab Information Technology Board (PITB) has launched an e-procurement system in order to carry out procurement transactions among departments run by government.
Developed by PITB, the modern system will provide a simpler yet translucent and efficient technology to cope with small financial transactions.
The project was publicized by Chairman PITB, Dr Umar Saif during his address at official meeting held at Arfa Software Technology Park couple of days ago. This system allows transaction maximum of Rs 100,000.
Earlier, all transactions used to be handled manually prior to the newly introduced system. As the old system attached couple of flaws, the new technology will enable vendors to add only one quotation against any procurement opportunity which will be verified using their National Tax Number, without any hassle and in no time.
Now, with this system, a vendor can see the details of a bid as well as give a quotation to win the contract online. Owning to this system, visiting the concerned office will no longer be a compulsion as the procedure can be controlled from a computer or laptop.
The newly introduced system will also lessen government budget by 25% for petty purchases and would be providing standardized prices for all the departments.