Finance Minister, Dr. Nigel Clarke says there is more than a tolerable rate of failure in the country’s procurement system.

Procurement is the process of locating and agreeing to terms, and purchasing goods, services, or other works from an external source.

Speaking this morning at the ELEVATE Procurement Conference in St. James, Dr. Clarke admitted that there are issues within the system, which if not addressed, will lead to implications for Jamaicans.

He pledged that the Office of Procurement would work tirelessly to transform the system from a tedious, task-oriented framework to a sophisticated, rule-enabled, commercial function.

Dr. Clarke also noted that after careful examination, it was found that the procurement system needs improvement as it relates to its efficiency.

Efficiency is one of eight principles, which guide the procurement process.