Nod to ‘e-marketplace’ for govt procurement

New Delhi, April 12 

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The Cabinet today decided to set up ‘Government e-Marketplace’ as a national portal for buying goods and services by Central and state government entities.

The Union Cabinet, chaired by Prime Minister Narendra Modi, decided to set up a special purpose vehicle to be called ‘Government e-Marketplace’ (GeM SPV) as the National Public Procurement Portion registered under the Companies Act, for providing services required by Central and state government organisations.

The GeM SPV shall provide an end-to-end online marketplace for Central and state government ministries/departments, Central and state PSUs, autonomous bodies and local bodies for procurement of common use goods and services in a transparent and efficient manner.

It further said Directorate General of Supplies and Disposal (DGS&D) would be wound up and cease its functions by October 31, 2017. “In case it is not possible to wind up DGS&D by October 31, 2017, the department may extend the date of closure with proper justification latest up to March 31, 2018,” an official statement said. — TNS