Value of PPADB awarded tenders fall
Friday, November 04, 2016
According to the 2016 annual report, tenders awarded by the board during the period amounted to P3.91 billion as opposed to P5.04 billion for the 2014/15 financial year, which represents a 22% drop.
The board adjudicated 527 submissions in 2015/16, which was a 28% decline compared to 735 submissions during the 2014/15 financial year.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...