The Ministry of Finance cleared for the current fiscal year 1431/1432 AH, contracts worth SR 186,380,000,000, showing an increase of 25% from the figure for the fiscal year 1430/1431AH, which amounted to a total value of SR 148,360,000,000. In a statement to the Saudi Press Agency, the Ministry said the number of contracts that have been cleared during the fiscal year 1431/1432 AH totaled 2,568, compared to 2,476 contracts that were cleared during the fiscal year 1430/1431 AH. These contracts are approved in spheres of pharmaceuticals; fuel; operation, maintenance and cleaning; construction; municipal and rural schemes; roads and transportation; establishment of schools and educational facilities; hospitals and health facilities, and projects of other sectors. The statement said the contracts whose values are less than SR Five million and whose duration of execution are less than a year do not fall within the contracts purview and that these are reviewed by the Ministry in accordance with Article 32 of the system of competition, government procurement contained in a Royal Decree issued on 04/09/1427AH.
