Railways Fetches Rs 1487.691 During Last Three Years
Sumaira FH Published November 08, 2016 | 12:30 PM
ISLAMABAD, Nov 8 (UrduPoint / Pakistan Point News - 08th Nov, 2016 ) : Pakistan Railways has fetched Rs 1487.691 million in last three years through transparent auction of scrap to ten companies. Giving year wise details, an official in the Ministry of Railways told APP that in 2013-14 Pakistan Railways sold Rs 979.883 million, in 2014-15 Rs 450.806 million and in 2015-16 sold Rs 57.002 million scrap.
He said the Names of ten main buyers including M/s. Nawaz Khan Trading Company, Lahore, M/s. PIOMA Trading Corporation, Lahore, M/s. Zahir Khan & Brothers, Islamabad, M/s. Scrap Point, Lahore, M/s.
K & Y Trading Co. Lahore, M/s. Bismillah Metal Impex, Gujranwala, M/s. Qaisar Metal Mart, Gujranwala, M/s. Al-Karam Enterprises, Gujranwala, M/s. Javed Rehman, Lahore and M/s. A.M Trading Company, Lahore.
"It is intimated that Pakistan Railways never purchased scrap for its departmental use as this requirement is also met out of the scrap generated within the department as a regular feature," he added.
Regarding the policy of scrap, he said the tenders are widely publicized through advertisement on daily newspaper and Pakistan Railways website. The scrap lots are made of similar nature items and lot size one M.Ton to 200 M.Ton depending upon the nature of scrap, the official added.
He said the bids are opened in the presence of three Grade-19 Officer's committee and the successful bidder is to deposit 35 percent payment at the time of signing the contract while remaining 65 percent amount is paid with-in delivery period of the contract.
"The delivery of scrap is made in during day time and in the presence of Store, Vigilance, Accounts and Police Departments representatives, he added.
Related Topics
Recent Stories
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
Turkey's Freedom Flotilla ready to set sail for Gaza
French teen dies from heart failure after knife attack near school
Iranians appear unfazed by Isfahan blasts
UAF celebrates Int'l Chinese Language Day
More Stories From Pakistan
-
NHA restores most roads across the country after heavy rains
4 hours ago -
Three bike lifter gang held, five stolen motorbikes recovered
4 hours ago -
Arandu's roads closed due to flooding
6 hours ago -
Oil tanker catches fire in Islamabad’s Blue Area
6 hours ago -
Pakistan committed to ensure safety of foreign nationals: FO
6 hours ago -
Four passengers injured as train hit an empty vehicle
6 hours ago
-
Over- speeding bus crushed to death two bike riders
6 hours ago -
UAF celebrates Int'l Chinese Language Day
6 hours ago -
Flooding on Chitral-Peshawar Highway strands travelers
7 hours ago -
Bilawal Bhutto demands govt to hold tripartite dialogue to curb terrorism
7 hours ago -
Punjab ombudsman facilitates over 1.36 crore payment to victims
7 hours ago -
Leghari seeks KP Govt’s cooperation in anti-power theft campaign
7 hours ago