Ministry of Environment has commenced efforts to establish a procurement policy based on 'Life cycle costing' for obtaining energy based equipment.
The project was kicked off by Environment Minister of Environment Dr. Hussain Rasheed Hassan at a ceremony held Wednesday at Champa Central Hotel in capital Male'.
Speaking at the workshop, Minister Hussain Rasheed noted that adopting such a policy would greatly benefit the country and its citizens. The government will opt for energy efficient options, and will ensure that the equipment are of good quality, said the minister.
Life cycle costing is the process of compiling all costs that the owner or producer of an asset will incur over its lifespan. While the administration's Strategic Action Plan (SAP) aims to establish a procurement policy based on life cycle costing, the Ministry of Environment has noted that the introduction of such a policy will further enhance the state's procurement policy.
The Ministry further said the workshop held Tuesday was attended by officials from the National Tender Board and Maldives Energy Authority. The formulation of a new procurement policy is being undertaken by the Ministry in collaboration with the Ministry of Finance.