Usual story behind highest bidder becoming the successful tenderer

18 January 2016 06:30 pm Views - 3506

Yahapalanaya is facing the risk of losing a soft loan of Rs.1,700 million granted by the Korean Economic Development Cooperation (KEDC) Fund for developing two main Technical Colleges in the country.


There is a move afoot by some government high ups  to offer the development project contract to the highest bidder ignoring the low bidders so that they could share the spoils and the KEDC Fund authorities are likely to withdraw or hold back the loan if they smell a rat, they say.