'Swiss Challenge Procedure' for unsolicited proposals: Govt.

The Cabinet has approved the use of what's known as the 'Swiss Challenge Procedure' in future to entertain unsolicited proposals for project implementation.

It is a system adopted by some countries when selecting private sector investors for this purpose.

This is a departure from the Government's assurance to follow the competitive bidding procedure to ensure transparency.

The Cabinet Paper says that it is a new selection process popular in many countries when selecting private sector investors to engage in development projects when proposals are presented by them without offers being called for by the government.

Then, other investors are called upon to make better offers than the original one and if a better offer is offered, the original investor is invited to match it. The Cabinet will draft the necessary guidelines to be followed in this regard. (Kelum Bandara)