BURS, banks speed up OBRS deadlines
Friday, October 04, 2019
The re-registration exercise invoives all companies in the country
The Companies and Intellectual Property Authority (CIPA), the custodian of the OBRS, has a deadline of June 2020 for all companies in the country to have re-registered on the online database. However, the BURS, banks, councils, land boards and others are reportedly already not accepting paper company certification and are demanding OBRS accreditation.
The BURS in particular reportedly issued an October 1 deadline indicating it would no longer deal with companies that have not migrated to the OBRS.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...