The Ministry of Finance announces bids surpassing MVR 5 million will be accepted through the bidding portal effective immediately.
The bidding portal, first introduced in 2021, facilitate secure and convenient electronic bidding.
The ministry said via a circular released on Monday, November 13, that all state procurements exceeding MVR 5 million will now be conducted digitally through the portal.
Any procurement exceeding MVR 5 million that are part of the state’s general budget must under the bidding submission process through the auction portal.
