Srinagar, June 3 KDC: The Jammu and Kashmir Government has constituted a high-level committee to revisit the imposition of Additional Performance Security (APS) on selected bidders quoting Abnormally Low Bid (ALB) prices in government tenders.
According to a government order issued by the Finance Department (Codes Division), a copy of which is in the possession of news agency Kashmir Dot Com, sanction has been accorded to the formation of a committee headed by the Director General (Codes), Finance Department, to examine the existing framework governing APS and recommend suitable revisions, if necessary.
The committee comprises Director Finance of the Power Development Department, Jal Shakti Department, Public Works (R&B) Department, and Resources Division of the Finance Department, along with Directors Planning from the Power Development, Jal Shakti, and Public Works (R&B) Departments.
As per the Terms of Reference, the panel will examine existing provisions and instructions related to the imposition of Additional Performance Security on abnormally low bids. It will also study the impact of the revised APS regime on bidder participation, competition, and execution of works.
The committee has further been tasked with reviewing practices followed by other departments, organizations and agencies, identifying practical challenges faced during implementation, and recommending modifications to the existing policy framework wherever required.
The government has directed the committee to submit its report and recommendations within 15 days from the date of issuance of the order.
The order, issued by the Finance Department and signed by Financial Commissioner (Additional Chief Secretary) Shailendra Kumar, was circulated to the concerned departments for immediate action.(KDC)
