The Zambia Public Procurement Authority (ZPPA) has published the Market Price Index for the second quarter of 2024, which provides indicative prevailing average prices on the market.
The issuance of the Market Price Index and the revised tolerable range of plus or minus 15% from the previous 10%, is in accordance with section 12 (3) of the Public Procurement Act No.8 of 2020 as read with the Public Procurement (Amendment) Act No.17 of 2023, which requires the authority to issue a quarterly market price index to be used by a controlling officer, Chief Executive Officer and procuring entities for purposes of making informed price decisions.
Principal Officer Public Relations Inutu Mushambatwa said that procuring entities should not apply the plus or minus 15% range pertaining to prices on the Market Price Index.
“Procuring entities are advised to only use the tolerable price when conducting the price reasonableness analysis on the percentage differences,” said Ms. Mushambatwa in a statement issued to RCV News in Lusaka today.
Ms. Mushambatwa said the publication of the market price Index is meant to curb inflated pricing in public procurement.
She said the issued market price index shall be in effect until the authority issues the next quarterly market price index.
By Bibiana Lambart
2 Comments