Dec 30, 2017

JAT Holdings Tender bond to be forfeited! Featured

The Attorney General has reportedly informed the Treasury to forfeit the Tender bond of JAT Holdings, which had failed to properly import fertilizer, leading up to a shortage in the country.

Accordingly, a sum of USD 240,000 (Rs. 36 million) will be forfeited from the company as compensation.

At its meeting on November 21, the cabinet approved giving a tender to JAT Holdings to import 72,000 mt of urea fertilizer.

However, the importation could not take place on time as no foreign supplier had agreed to supply under the DA method, which has resulted in the prevailing shortage.

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