Oral answer by Ministry of National Development on whether there will be an increase in the value of $70,000 under the Town Council Financial Rules above which tendering procedures will be adopted

Mar 7, 2024

Question No: 5836

Question by: Mr Gerald Giam Yean Song

To ask the Minister for National Development (a) whether there will be an increase in the value of $70,000 under the Town Council Financial Rules above which tendering procedures will be adopted; (b) if so, whether the value will correspond with the current estimated procurement value of $90,000 under GeBiz; and (c) if not, why not.

Answer:

      MND is currently reviewing the Town Council Financial Rules to ensure that they remain relevant to the Town Councils’ evolving operating context.

2.       The threshold of procurement value which triggers the need for a tender to be called by Town Councils is one of the items under review.

3.      The details will be shared with all Town Councils when ready.