The ministry, under direction from the Group of Ministers (GoM) constituted for overseeing the project, will change the tender conditions whereby selection will be based on technical proficiency rather than financial bids.
The new conditions would not require the submission of financial bids, official sources said. The fee for the financial consultant would be decided by the ministry after affixing the quantum of work required to be done, the sources added.
They said the GoM had raised objections to the fact that the selection of the consultant for the Rs 10,000 crore privatisation programme was being solely based on financial bids.
The ministers had referred the entire selection process to the law ministry, stating that technical expertise should be made the selection criterion rather than the lowest bid.
The law ministry, according to sources, has made it clear that fresh bids have to be invited as the previous tender conditions specifically stated that the L1 (lowest) bidder would be selected.
Ernst & Young emerged as the lowest bidder in the race to be the financial consultants for the privatisation the two metro airports with a bid of Rs 2.39 crore. ABN Amro