AIRLINK 212.82 Increased By ▲ 3.27 (1.56%)
BOP 10.25 Decreased By ▼ -0.21 (-2.01%)
CNERGY 7.00 Decreased By ▼ -0.35 (-4.76%)
FCCL 33.47 Decreased By ▼ -0.92 (-2.68%)
FFL 17.64 Decreased By ▼ -0.41 (-2.27%)
FLYNG 21.82 Decreased By ▼ -1.10 (-4.8%)
HUBC 129.11 Decreased By ▼ -3.38 (-2.55%)
HUMNL 13.86 Decreased By ▼ -0.28 (-1.98%)
KEL 4.86 Decreased By ▼ -0.17 (-3.38%)
KOSM 6.93 Decreased By ▼ -0.14 (-1.98%)
MLCF 43.63 Decreased By ▼ -1.57 (-3.47%)
OGDC 212.95 Decreased By ▼ -5.43 (-2.49%)
PACE 7.22 Decreased By ▼ -0.36 (-4.75%)
PAEL 41.17 Decreased By ▼ -0.53 (-1.27%)
PIAHCLA 16.83 Decreased By ▼ -0.47 (-2.72%)
PIBTL 8.63 Increased By ▲ 0.08 (0.94%)
POWERPS 12.50 No Change ▼ 0.00 (0%)
PPL 183.03 Decreased By ▼ -6.00 (-3.17%)
PRL 39.63 Decreased By ▼ -2.70 (-6.38%)
PTC 24.73 Decreased By ▼ -0.44 (-1.75%)
SEARL 98.01 Decreased By ▼ -5.95 (-5.72%)
SILK 1.01 Decreased By ▼ -0.02 (-1.94%)
SSGC 41.73 Increased By ▲ 2.49 (6.35%)
SYM 18.86 Decreased By ▼ -0.30 (-1.57%)
TELE 9.00 Decreased By ▼ -0.24 (-2.6%)
TPLP 12.40 Decreased By ▼ -0.70 (-5.34%)
TRG 65.68 Decreased By ▼ -3.50 (-5.06%)
WAVESAPP 10.98 Increased By ▲ 0.26 (2.43%)
WTL 1.79 Increased By ▲ 0.08 (4.68%)
YOUW 4.03 Decreased By ▼ -0.11 (-2.66%)
BR100 11,866 Decreased By -213.1 (-1.76%)
BR30 35,697 Decreased By -905.3 (-2.47%)
KSE100 114,148 Decreased By -1904.2 (-1.64%)
KSE30 35,952 Decreased By -625.5 (-1.71%)

The National Highway Authority (NHA) penalising the Echo West, a private contractor, has encashed Rs 177 million bank guarantee due to its poor performance on various projects, including Torkham-Jalalabad Road.
According to details, the NHA was perturbed over the poor performance of the contractor especially on critical Torkham-Jalalabad Road and Hala-Moro additional carriageway project. Pakistan and Afghanistan have been eagerly awaiting the completion of Torkham-Jalalabad Road to restore link between two neighbouring countries as soon as possible.
But, the NHA has been facing scathing criticism due to the poor performance of the Echo West that also compelled the Authority to inject hefty amount of money to complete the project of paramount importance. Some two months back, the Echo West was served a show-cause notice owing to its poor performance. It is disturbing to note that the delay in completion of Torkham-Jalalabad project has consumed Rs 1 billion in excess of the original estimates.
The 75-km highway between Torkham and Jalalabad is still lying incomplete, the work on which was started in February 2004 at an estimated cost of Rs 1 billion. The project was initially awarded to the Echo West, but the performance of the firm was not up to the mark. Later on, the project was handed over to the Frontier Works Organisation (FWO), but the Echo West remained sub-contractor with the FWO.
The statement issued by the National Highway Authority said it has encashed Rs 177 million bank guarantee of the Echo West, as the contractor was unable to remove objections raised in the show-cause notice.

Copyright Business Recorder, 2006

Comments

Comments are closed.