Performance bonds worth Rs 54.1 million for 17 contracts are yet to be forfeited.
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Even after the termination of the contracts of 39 contracts, the performance security of 54.1 million rupees for 17 contracts has been forfeited and the remaining work of 5.79 billion rupees for 39 contracts has not been recovered. As mentioned in the summary of the 63rd Annual Report-2083 of the Auditor General on Friday, 118 contracts were terminated in the fiscal year 2081/2082 under the Ministry of Energy, Water Resources and Irrigation, Drinking Water (currently Health and Food Hygiene), Physical Infrastructure and Transport (currently Infrastructure Development) and Urban Development (currently Infrastructure Development), and the summary states that the cost of 62 contracts for 62 contracts has not been determined. Section 59 of the Public Procurement Act, 2063, contains provisions regarding the termination of procurement contracts and their implementation.
The Office of the Auditor General has pointed out that there is a provision for the recovery of insufficient funds from the construction business that terminates the contract for new purchase contracts where the purchase contracts are terminated before the work specified in the purchase contracts is completed.
