Page 26 - பர்மா ஜநரல் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Six dead as Myanmar junta intensifies crackdown on anti-coup protests | Bangladesh Sangbad Sangstha (BSS)
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Death toll in Myanmar rises to six as junta intensifies crackdown on anti-coup protests
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9:38 am
The World Bank debarred a German construction and engineering company that serves the oil and gas industry Wednesday for thirteen months for a fraudulent practice connected to a project in Myanmar.
Ferrostaal Oil & Gas GmbH acted as the Myanmar-based partner of another company and as an agent to prepare a bid for a contract.
Ferrostaal Oil & Gas’ local representative and managing director instructed the partner company not to disclose the agreed commission to be paid to Ferrostaal Oil & Gas in the initial bid. Ferrostaal Oil & Gas did not correct this omission in a later amendment to the contract.
That was “a fraudulent practice under the World Bank Group procurement guidelines,” the World Bank said.
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