Cyprus Mail

Parliament to review public contracts

Demetris Syllouris

Parliament will review the law on public contracts with a view to amend it to prevent the mismanagement and squandering of taxpayer money.

House Ethics Committee deputy chairman Demetris Syllouris said the aim was for the review, to be done in co-operation with Frederick University, the auditor-general, the treasurer, the attorney-general, and the competition commission, to be completed in 100 days.

A lot must change in the current framework including extending it to cover semi-government organisations, and local authorities, he said.

DIKO chairman Nicolas Papadopoulos proposed to have an insurance company guaranteeing the contract.

This would mean better supervision, since the project would be evaluated by a private firm, Papadopoulos said. If it went over the budget, the additional amount would be covered by the insurance company, which would complete the project and take legal measures against the contractor later.

“We are prepared to discuss practices in place in other countries to find ways to have better administration and avoid mismanagement and fraud,” he said.

Related Posts

Coronavirus: Six deaths, 1,971 people test positive on Sunday (Updated)

Staff Reporter

Shockwaves from the Tonga volcano eruption reach Cyprus, Chief meteorologist says

Source: Cyprus News Agency

Police investigating €4,500 theft in Paphos

Staff Reporter

UN Cyprus contributor meeting highlights importance of respecting buffer zone

President Anastasiades begins a week of meetings to take action on Vasiliko, EAC, justice reform, natural gas

Cyprus’ hidden shrines to Christianity

Paul Lambis


Comments are closed.