Home » FICCI for reserve price method in project bidding

FICCI for reserve price method in project bidding

FICCI for reserve price method in project bidding

The Federation of Indian Chambers of Commerce and Industry (FICCI) wants the government to add reserve pr­ice concept as a parameter in the bidding processes for infrastructure projects instead of opting purely for lowest cost bids. The government could internally fix a reserve price in bidding processes, which refl­ects the approximate project cost. The players who bid below the reserve price by a margin of over 10 per cent should be asked to pay higher bank guarantees, the Infrastructure Committee of FICCI has proposed. The idea is to prevent aggressive bidding by non-serious players with an eye on beefing up the order books.

Comments

Leave a Reply