Section 35 in The Punjab Infrastructure (Development & Regulation) Act, 2002
35. Grant of a concession.
(1)The concession shall be granted by a public infrastructure agency to a bidder who :-(i)satisfies the stipulated financial, technical, organizational and legal standards; and(ii)whose bid is the lowest and is in most favourable terms for the project based on the present value of its proposed tolls, fees, [rentals, charges and period of concession] [Words 'rentals and charges' substituted by Punjab Act 22 of 2003.] over a fixed term for the infrastructure project to be constructed, rehabilitated, operated and maintained as per the stipulated minimum design and performance standards, plans and specifications.(2)The purpose of the financial package governing any sector or the concessions to be granted for any infrastructure project will be to ensure that the same is financially viable and bankable to attract maximum private investment. The public infrastructure agencies may have to make substantial investments or grant substantial concessions to make an infrastructure sector or an infrastructure project viable. (3) [Immediately after the] [Words 'Within a period of thirty days from the date of' substituted by Punjab Act 22 of 2003.] completion of the second stage evaluation, a decision on whether or not to award the contract, shall be taken by the Board.
