A department, institution, or agency of the Commonwealth may be granted an exemption from the provisions of § 53.1-47 with the written consent of the Chief Executive Officer of the Virginia Correctional Enterprises Program in any case where (i) the article so produced or manufactured does not meet the reasonable requirements of the department, institution, or agency, (ii) an identical article can be obtained at a verified lesser cost from the private sector, which is evidenced by a verified request for pricing, or (iii) the requisition made cannot be complied with on account of an insufficient supply of the articles or supplies required, or otherwise. In any case where an exemption from the provisions of § 53.1-47 is not granted as provided in this section, the Chief Executive Officer of the Virginia Correctional Enterprises Program shall provide a written justification for the denial to the department, institution, or agency that requested the exemption.