Assn submits memorandum to CM

ITANAGAR, Mar 5: The All Arunachal Contractor’s Welfare Association has submitted a memorandum to the chief minister, urging him to bring down the bank guarantee (BG) or performance guarantee (PG) for tribal contractors from the existing 5 percent to 2.5 percent.
The association claimed that in states like Assam the ST/SC contractors pay only 2.5 percent BG.
It also sought enhancement of the tender limit of Class V, IV and III contractors from the existing Rs 50 lakhs to Rs 1 crore, from Rs 1 crore to Rs 2 crore, and from Rs 3 crore to Rs 5 crore, respectively.