LAHORE– Pakistan Railways (PR) has decided to change its security policy for the security money regarding scrap.
The change in policy has provided ample opportunities to small and medium-sized contractors to participate so that more people could join.
At the time of submission of scrap tender, only 10% security has to be submitted instead of 35% in the form of DR/Pay Order/ Bank Guarantee.
This policy will discourage the bidding traders and only the standard bidders will be awarded the tender.
Even if an increase is possible. This process will lead to better performance of the store department of the railway department.
It may be recalled that earlier 10% security money was mandatory at the time of submission of tender and after that another 25% security amount had to be deposited and thus the total amount of security was 35% which has now been reduced to only 10%.— PRESS RELEASE
