Srinagar, June 3: The government has constituted a seven-member committee headed by Director General (Codes) to review the imposition of Additional Performance Security (APS) on contractors quoting Abnormally Low Bid (ALB) prices.

The seven member committee has been tasked to examine the existing provisions/instructions relating to imposition of Additional Performance Security on abnormally low bids.
The panel will study the impact of revised Additional Performance Security on participation, competition, and execution of works.
It will review practices being followed by other departments/organizations/agencies, identify practical issues being faced during implementation and recommend suítable revisions/modifications in the existing policy/framework, if considered necessary.
The panel has been asked to submit its report/recommendations within 15 days