22 Nov 2018

Since the beginning of the current financial year up to October 30, a total of 116 youth-owned companies benefitted under the Reservation on Micro Procurement at an amount of P8.8 million from the Ministry of Investment, Trade and Industry.

Responding to a parliamentary question on behalf of the Minister of Investment, Trade and Industry, Mr Vincent Seretse said under the Reservation on Maintenance, the ministry, including parastatals under it awarded 15 tenders to youth-owned companies to the tune of P2.9 million during the current  financial year.

Mr Seretse, who is the Minister of Infrastructure and Housing Development, further indicated that at the beginning of the current financial year a total of eight youth-owned companies benefited from the Price

Preference Scheme at an amount of P2 million.

He said the lowest and highest amount awarded for Micro Procurement were P1 000 and P1.7 million respectively; while for Reservation on Maintenance amounts stood at P27 000 and P794 000 respectively.

As for Price Preference, Mr Seretse said the lowest awarded was P2 250 and the highest P1.5 million.

Specially Elected MP Mephato Reatile had asked for the number of youth-owned companies that had benefited from the Ministry of Investment, Trade and Industry through the Presidential Directive on Local

Procurement Scheme under the Reservation on Micro Procurement, Reservation on Maintenance and the Price Preference categories.

Further, he had wanted the minister to state the lowest and highest amounts awarded for each tender. Ends