Agreement has been granted by the RDA (Rawalpindi Development Authority) of Rs22.8 billion to the Frontier Works Organization (FWO) for the development of 38.3-kilometer-long Rawalpindi Ring Road from Rawat to Thalian.
Rs. 300 million is offered by the FWO which is less bid than the estimated cost. The FWO surfaced as the lowest bidders after the committee started opening technical and financial bids in the existence of all concerned, according to RDA Chairman Tariq Mehmood Murtaza.
He also said the financial bid was granted after a following rebate proposed by the FWO.
He said that the FWO has been approached to outfit security at a rate of 5% of the agreement value, which is Rs1.14 billion in the form of money, pay request, or bank guarantee (on stamp paper) from any registered bank in Pakistan within 15 days of the agreement letter’s issuance.
The contract was given to an administration development office because of the sensitive location of the area. The public authority development organisation will achieve the commitment without including an external observer or a private area, according to authorities.
