Govt makes it easier to win oil and gas projects for local-content bidders

At a time when the country’s oil and gas sector is executing projects worth about Rs 5.88 lakh crore, the Union government has amended the purchase-preference-local-content (PPLC) policy for the sector. In order to boost domestic manufacturing, the new policy allows bidders using local products to win contracts even if they quote rates 20% higher than the lowest bid. The purchase preference margin was earlier kept at 10%.

The policy will be applicable for all tenders issues by public sector oil and gas companies and their joint ventures.