ISLAMABAD: Pakistan Railways has fetched Rs 1487.691 million in last three years through auction of scrap to ten companies.
Giving year wise details, an official in the Ministry of Railways told APP that in 2013-14 PR sold Rs 979.883m, in 2014-15 Rs 450.806m 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 AM 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 publicised through advertisement on daily newspaper and Railways website.
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.
