Pakistan Railways has fetched Rs. 1,487,691,000 in the last three years through the transparent auction of scrap to ten companies. Giving a year by year account, an official in the Ministry of
Railways told APP that Pakistan Railways sold scrap worth Rs. 979.883 million, Rs. 450.806 million, and Rs. 57.002 million in 2013-14, 2014-15, and 2015-16, respectively.
The main buyers included 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,” the official said.
Regarding the policy of scrap, he said that the tenders are widely publicised through advertisement in daily newspapers and the Pakistan Railways website.
The scrap lots are made of similar items and lot size, from 1 metric tonne to 200 metric tonnes depending upon the nature of scrap, the official added.
He said that the bids are opened in the presence of a committee of three Grade-19 officers and that the successful bidder is to deposit 35 percent of the payment at the time of signing the contract, while the remaining 65 percent of the amount is to be paid with-in the 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.