PUBLIC PROCUREMENT AS A SOCIAL, ECONOMIC AND POLITICAL POLICY

ABSTRACT. Public Procurement is an indispensable economic activity for good governance. Government agencies of independent nations, multilateral funding institutions and international aid organizations implement their development assistance and humane relief programs aimed at fighting diseases, reducing poverty and fostering economic and social development. In the process they generate incredible business opportunities worth trillion of dollars for trade & industry. Public procurement subject has drawn significant political attention worldwide resulting in grouping of countries for varied economic interests. Government Procurement Agreement of WTO, tough piloted with the objective to be the ultimate regulator of global procurement still remains a pluralistic agreement. In this article, the social, economic and political aspects of public procurement have been examined with cohesive and coherent approach