Government Procurement During Covid-19: Prioritizing Value For Money Over Discriminatory Policies

Abstract

As the global economy has been severely affected by the COVID-19 crisis, planning and optimum utilization of scarce resources have become a necessity. We are facing one of the worst economic crises in the history of human civilization. Governments have introduced stimulus packages and other policy measures in various jurisdictions to address this issue. These measures aim to pump money into the economy, which leads to increased demand or purchasing power. It is noteworthy that economic stress and stimulus spending complement protectionism at the national levels.  This entire process can potentially undermine the work of WTO and RTAs in the promotion and liberalization of international trade.  It is detrimental to the economy as it restricts market access, limits competition, and results in purchases of inferior goods and services. It hampers fair competition and efficiency and promotes corruption in the entire procurement process.