Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government

Parliamentary Question by Mr Leong Mun Wai:

To ask the Deputy Prime Minister and Minister for Finance for each year of the last three years, what percentage of invoices for contracted goods and services provided to the Government, above and below $5,000 respectively, were paid within (i) five days (ii) 10 days and (iii) 30 days.

Parliamentary Reply by Deputy Prime Minister, and Minister for Finance, Mr Lawrence Wong:

Most credit terms for government procurement contracts are set at 30 days. About 98% of invoices for Ministries and Organs of State have been paid within credit terms for the last three years. For small-value invoices below $5,000, we have prioritised efforts to pay earlier than the usual 30-day credit terms. 

For invoices below $5,000 for Ministries and Organs of State, about 13%, 49% and 99% were paid within 5 days, 10 days and 30 days respectively for the last three years.

For invoices $5,000 and above for Ministries and Organs of State, about 17%, 28% and 98% were paid within 5 days, 10 days and 30 days respectively for the last three years.