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SPV to operate government e-marketplace portal for purchases

The Cabinet today decided to set up an SPV, a not for profit company, to operate government e-marketplace (GeM) portal to procure goods and services by all government departments and PSUs.

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The Cabinet today decided to set up an SPV, a not for profit company, to operate government e-marketplace (GeM) portal to procure goods and services by all government departments and PSUs.

The decision was taken in the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here.

The GeM SPV would provide an end-to-end online marketplace for central and state government ministries, departments, Public Sector Undertakings, autonomous institutions and local bodies, for procurement of common use goods and services in a transparent and efficient manner.

With this decision, the company would replace the Directorate General of Supplies and Disposal (DGS&D), which is under the commerce ministry.

The DGS&D would cease its functions by October 31.

However, the official release said that in case it is not possible to wind up DGS&D by that time, the department may extend the date of closure with proper justification latest upto March 31, 2018.

The Cabinet gave its approval for "setting up of a Special Purpose Vehicle (SPV) to be called Government e- Marketplace (GeM SPV) as the National Public Procurement Portal as Section 8 Company registered under the Companies Act 2013," the release said.

According to an official the move is aimed at making GeM an autonomous body, which would help in taking all the decisions including those related to finance at a faster pace.

The ministry last year launched GeM for online purchase of goods and services to bring in more transparency and streamlining government procurement, estimated at Rs 10,000 crore a year.

Currently, over 9,000 products from 250 categories, including computers, stationery and several services, are registered by different vendors on the portal.

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

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