Govt to regulate procurement

COMPANIES will, by next year, be forced to turn to local firms to procure all their needs as government moves to ramp up local production.

Presenting the State of Industry on Wednesday, Industry and Commerce minister Mike Bimha, said his ministry was in the process of developing a policy which will force major companies to procure locally.

He said the policy will be introduced to support and reinforce gains made during the introduction of the highly-unpopular Statutory Instrument 64 which saw government suspending a number of products from the Open General Import licence.

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