It means objects of every kind and description, including commodities; raw materials; products; equipment; and objects in solid, liquid, or gaseous form.
According to Article 2 of the Public Procurement, Concessions and Disposal Act of 2019 The purpose is to establish institutional structures for managing public procurement and provide procedures for procurement of goods, works, services and other contract terms; administration of concession agreements; and disposal of unserviceable, obsolete, or surplus stores, and equipment by public entities