Finance Ministry Adopts Bidding Portal for Procurements Exceeding MVR 5 Million

The Finance Ministry has announced that bids surpassing MVR 5 million will be accepted through the bidding portal.

Introduced in 2021, the bidding portal facilitates secure and convenient electronic bidding processes.

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According to a circular released today by the Finance Ministry, all state procurements exceeding MVR 5 million will be exclusively conducted through this designated portal.

Effective immediately from the circular’s publication date, any procurements exceeding MVR 5 million that are part of the state’s general budget must undergo the bidding submission process exclusively through the auction portal.