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Controls to weed out bid collusion: Median price set for e-auctions.
Byline: Wichit Chantanusornsiri
Jan. 7--The Finance Ministry has amended the terms for electronic auctions (e-auctions) for government contracts by setting median prices to better reflect market prices.
Median prices that truly reflect market prices would prevent price collusion among e-auction bidders, said Boonsak Jiampreecha, the comptroller-general.
"We can adjust median prices up or down all the time based on changes in major economic factors such as oil prices and interest rates," he said.
In e-auctions, the median prices for big companies should be lower than the prices for small companies. This is because large-scale companies ...
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