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Russian antimonopoly watchdog supports transfer of government procurement control powers

MOSCOW, March 9. /TASS/. Russia’s Federal Antimonopoly Service (FAS) supports transfer of government procurement control powers currently vested in the Ministry of Economic Development to the Finance Ministry, press service of the regulator told TASS on Thursday.

"FAS supports establishment of integrated legal regulation of the budgeting process and the procurement process by a single federal executive agency, that is, by the Finance Ministry, for purposes of efficient and operational legal regulation in the procurement sphere and in the budgeting sphere," the press service said.

The budgeting process and the government procurement procedure are essentially a single process, whose purpose is to ensure openness, transparency and prevention of corruption.

The government is discussing transfer of government procurements regulation to the Finance Ministry to simplify budget savings monitoring, Vedomosti newspaper said earlier today.