PUNJAB INFRASTRUCTURE DEVELOPMENT BOARD

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1 PUNJAB INFRASTRUCTURE DEVELOPMENT BOARD and SUMMARY (Rs. in cr.) S. No I (i) Receipt Head Opening Balance (O.B.) Actuals (O.B.) (+) II (ii) Infrastructure ** (iii) Interest on deposits (iv) Loan (including interest) recoverable from- Other Authorities/Departments/ Board / Corporations like; GMADA, MC Bathinda, MC Ludhiana, PWSSB, DWSS, PWD B&R, Industries and Commerce and PSHC,etc (v) Miscellaneous receipts - (a) Sale of bid documents/tender money (b) other receipt like Project Development fee, funds for Impending expdr., (Railway share), Processing fee, Bid security amount, interest received on late deposit of Toll/Concession fee, Encashment of BG, etc. Total v (a)+(b) (vi) Net Toll Receipt: - (a) O&M of Ropar-Phagwara Road (b) O&M of Jagraon-Nakodar Road (c) O&M of Kiratpur Sahib-Una Road (d) User fee from Toll at Makhu Total vi (a) to (d) (vii) Receipt under OUVGL Scheme Total (I) Expenditure (a) Infrastructure Projects (b) Relocation of properties (OUVGL scheme) Total II (a) and (b) (c) Project development (d) Bonds related payments (Debt servicing) (e) Professional fees (f) Establishment (g) Purchase of land for PIDB office/const. of building Total (II) III Closing balance (I II) (+) (+) (+) (-) * includes Rs. 100 crore on account of Token I.D. fee receipt from the State Procuring agencies. The Department of Food has asked for its refund. ** I.D. fee on foodgrains () has been taken on the assumption that procuring agencies will be depositing I.D. 3% Page 1

2 PUNJAB INFRASTRUCTURE DEVELOPMENT BOARD and I - RECEIPT (Rs. in cr.) S. No I (i) Receipt Head Opening Balance (O.B.) Actuals (O.B.) (+) (ii) Infrastructure * (iii) Interest on deposits (iv) Other Authorities/Departments/ Board / Corporations like; GMADA, MC Bathinda, MC Ludhiana, PWSSB, DWSS, PWD B&R, Industries and Commerce and PSHC,etc (v) Miscellaneous receipts - (a) Sale of bid documents/tender money (b) other receipt like Project Development fee, funds for Impending expdr., (Railway share), Processing fee, Bid security amount, interest received on late deposit of Toll fee, etc. Total v (a)+(b) (vi) Net Toll Receipt: - (a) O&M of Ropar-Phagwara Road (b) O&M of Jagraon-Nakodar Road (c) O&M of Kiratpur Sahib-Una Road (d) User fee from Toll at Makhu Total vi (a) to (d) (vii) Receipt under OUVGL Scheme Total (I) Note 1. For receipt resources during, see explanatory Memo. at Annexure I 2. As on , funds of Rs crore were lying in FDs (PIDF). This is being taken as opening balance for (as on ) Breakup of I.D. Fee receipt Wheat Paddy Petrol Arrears of I.D. Fee - - Total Page 2

3 II EXPENDITURE (a) INFRASTRUCTURE PROJECTS (Sector-wise) (Rs. in Cr.) Infrastructure Sectors Actual expdr. (1) (2) (3) (4) (6) (7) (8) 1. Roads Sector Projects Const/ Upgradation of Roads HLBs ROBs/RUBs Total Water Supply / Sewerage and STPs Urban/Rural sector Education sector Irrigation sector Health sector Project wise details enclosed vide Annexure A 7. Social sector Cultural Affairs Tourism sector Transport sector Governance sector Sports sector Total (1 to 12) Arbitrators fees/dre s remuneration /Arbitration Awards Project wise details enclosed vide Annexure A1 Total (13) Grand Total (1 to 14 above) These estimates are based on the fund requirement placed by the concerned ADs with PIDB against these projects. These projects stand already approved by the EC/Board of PIDB. 2. The expenditure against individual infrastructure sectors/projects can vary but overall expenditure taken together for all the projects should not exceed the proposed provision of Rs crore for. However, the actual expdr. may vary depending on physical progress of such projects. Page 3

4 (b) Relocation of properties (OUVGL) Projects Actual expdr. (Rs. In cr.) (1) (2) (3) (4) (6) (7) (8) 1. Relocation of properties The project wise detail is enclosed vide Annexure- B. Total Expdr. on projects is made as per the approval of the EC/Board of PIDB. The expenditure on individual projects can vary, but overall expenditure taken together for all the projects should not exceed the proposed provision of Rs crore during. However, the actual expdr. may vary depending on physical progress of such projects. Page 4

5 (c) EXPENSES ON PROJECT DEVELOPMENT (Rs. In lac) Actual expdr. (1) (2) (3) (4) (5) (6) (7) (i) Advertisements/ Publicity (including display material,) for projects and OUVGL scheme Proposed provision is to meet expdr. on advertisements for inviting EOIs/Tenders relating to infrastructure projects and disposal of properties under OUVGL scheme, etc. BE- A provision of Rs lac is proposed during. (ii) Conferences, Seminars, Training courses and Marketing of projects, etc BE- It is important to keep abreast with latest technology in the development of infrastructure in the state from time to time though participation in the Training programmes/seminars and organizing the Interactive sessions, etc. PIDB is required to market its projects in which private sector participation is solicited. The marketing of projects is carried out through Press, one to one meetings and Seminars with the investors in different fields of infrastructure. A provision of Rs lac is proposed during. (iii) (a) Consultancy fee PIDB, with the approval of EC, has awarded consultancy work relating to infrastructure projects, from time to time. The consultancy fee is released based on achieving the defined stages of the consultancy assignment. RE- for is proposed to be increased to Rs lacs from lacs. (b) Consultancy fee - OUVGL scheme BE- PIDB could not utilize full provision approved for , the existing provision of Rs lacs is proposed to be curtailed to Rs.2.75 lacs for projects of OUVGL scheme. The details of projects mandated to the concerned Consultants and consultancy fee payable to them, as approved by EC, is shown - vide Annexure -C. Page 5

6 Actual expdr. (1) (2) (3) (4) (5) (6) (7) PIDB has entered into MOA with the Transaction Advisors namely; M/s Feedback Infra Pvt. Ltd., M/s Ernst & Young LLP and M/s Price water House Coopers (P) limited, for the structuring of infrastructure projects for PIDB as well as other Public Infrastructure Agencies of the State. These Transaction Advisors will get fee as under:- Retainership fee: Each Transaction Advisor will get fee of Rs lac p.m. plus applicable service tax. (iv) Project Developers / Transaction Advisors Project development fee : Based on the payment schedule defined in the existing TOR of projects mandated to the respective Transaction Advisors, the fee will be released from time to time. (a) (b) Retainership fee Project Dev. fee Success fee : The Transaction Advisors will be paid the success fee at prescribed percentage of private sector investment /finance attracted into any infrastructure project, as stipulated in the respective MOAs. (c) Success fee estimates- Total (iv) (a) to (c ) The following revised provision is proposed for a) Retainership fee: The Transaction Advisors have been paid retainership fee of Rs. 1,00,000/- per month each plus applicable service tax. Based on the invoices raised by respective Transaction Advisors, PIDB has released retainership fee to the tune of Rs lac during. b) Project development fee: Based on the payment schedule defined in the existing TOR of projects mandated to the respective Transaction Advisors and invoices raised by them, PIDB has released project development fee to the tune of Rs lac during. c) Success fee: PIDB, with the approval of EC, has released due success fee to the tune of Rs lac to the concerned Transaction Advisors. estimates - A provision of Rs lac is proposed under this head for. The detail of Transaction Advisors wise fee paid/payable payment details during and is enclosed vide Annexure D. Grand Total (i) to (v) Or Say The expenditure on individual items can vary but the overall expenditure taken together under this SOE should not exceed the proposed provision of Rs lac during. Page 6

7 (d) BONDS RELATED PAYMENTS (DEBT SERVICING) No. Actual expdr. (1) (2) (3) (4) (6) (7) (8) (Rs. in lac) PIDB, with the approval of EC/ Board had raised Bonds of Rs cr. during (Rs cr.) and (Rs cr.), to abridge the resources gap for funding of important infrastructure projects, as approved by the EC/ Board from time to time. The interest liability against these bonds during and, works out as under: - (Rs. in cr.) Bond Issue Date of Allotment Rate of Interest (p.a.) Interest payable Rs Series-I (Regular return bond) Rs Series-II (Deep discount bond) % 10.07% Not Due Not Due (a) Debt servicing of Bonds (interest payment) Rs Series-III 11.98% (Deep discount (Due 0.40% bond) Rs Series-IVA (Regular return % bond) 5 Rs Series-IVB (Regular return % bond) 6 Rs Series-IVC (Regular return % bond Total Rs Regular return bonds Deep discount bonds Total = Rs cr. = Rs cr. = Rs cr. Accordingly, a provision of Rs cr. is proposed for debt servicing of above Bonds (1 to 6 above) during. (b) Funds required to be Escrowed/kept in sinking fund annually for repayment of Principal amount of Bonds of Rs. 750 cr As per condition of Bond issue Series IV (Rs. 750 crore) funds of Rs. 75 crore per annum are required to be escrowed /kept in sinking fund for 10 years from to , out of all kinds of receipt of PIDB at the beginning of each financial year to accumulate Rs. 750 crore so that out of it repayment of principal amount of Bonds of Rs. 750 crore could be made in 5 equal installments of Rs. 150 crore each from to (c) Annual Surveillance fee payable to Rating agencies Surveillance fee is payable annually to CARE and ICRA - two Rating agencies of the Bond issues, as per mandate letters issued to them. (d) Fee payable to Registrar of Bonds issue Fee is payable to the Registrar of the Bond issues, as per mandate letter issued to them. (e) Trusteeship fees Fee is payable to the Trustees of the Bondholders, as per mandate letters issued to them. (f) Fees for listing of Bonds Fee is payable to NSDL/CDSL/BSE/NSE for Listing of PIDB s Bonds, as per mandate letters issued to them. Total (a to f) Or say The expenditure on individual items can vary but the overall expenditure taken together under this SOE should not exceed the proposed provision of Rs lac during. Page 7

8 (e) PROFESSIONAL FEES (Rs. In Lac) Actual expdr. (1) (2) (3) (4) (6) (7) (8) Advocates/ ELFA and other Professionals PIDB is required to bear expdr. on account of professional fees and out of pocket expenses of (a) Advocates engaged in court cases; (b) ELFA - for annual audit of Accounts of PIDB, (c) two Chartered Accountants engaged on retainership basis for internal review of Account books of PIDB, filing of its TDS returns/attending to income tax matters, etc, and for financial consultancy and (d) one professional for rendering professional services as an Architect for important infrastructure projects being taken up by PIDB. RE- The existing provision of Rs lac is proposed for. BE- A provision of Rs lac is proposed for, as under:- (Rs. in lac) S. Particulars RE BE 1. Advocate fees ELFA (Audit Fee) Two Chartered Accountant (s) fee Architect Total Say 30 lac 33 lac Total Or Say The expenditure on individual items can vary but the overall expenditure taken together under this SOE should not exceed the proposed provision of Rs lac during. Page 8

9 (f) ESTABLISHMENT (Rs. In Lac) Actual expdr. (1) (2) (3) (4) (5) (6) (7) 1. Salaries BE- The proposed provision is on account of salaries and other allowances / entitlements of the officers/employees of the Board. It also includes provision for annual increments and two DA installments due from Jan and July, 2013 payable during, subject to sanction by the Punjab Govt. (see details- vide ANNEXURE- E) 2.(a) Travel Expenses BE The proposed provision is to meet travel expenses of the functionaries of PIDB, Chief Engineer (IP) and his officers when such journeys are approved in PIDB s interest. (b) Vehicle maintenance and Propulsion facility/ Conveyance allowance BE- The facility of Vehicle Maintenance and Propulsion Scheme, as approved by the EC, is being extended to two General Managers of PIDB in lieu of provision of staff cars to them. They are being allowed re-imbursement of expenditure, as per scale laid down under the approved scheme. Since the actual expenditure is likely to be Rs lacs, therefore funds of Rs is required in RE A provision of Rs lac is proposed for. 3. Statutory Contributions and Leave encashment benefits BE - The proposed provision is for making payment of Pension and leave salary contributions of the deputationists to the Parent organizations and payment of Rs lac on account Leave encashment benefits to the Exemployees of PIDB namely; Sh. Gagan Anand, Ex-CLA (Rs lac) and Sh. G.P.S Mann, Ex-CGM (Rs lac) (see details- vide ANNEXURE- F) 4. Medical reimbursement BE The proposed provision is to meet expdr. on reimbursement claims of the employees of PIDB for indoor treatment /reimbursement claims against the approved chronic diseases. Page 9

10 Actual expdr. (1) (2) (3) (4) (5) (6) (7) 5. Office Expenses This is major sub-head of expdr. under which expenses on account of running and maintenance of PIDB office are booked. The expenditure falls under following two categories: - I. Non recurring expdr. As per necessity, PIDB has to purchase various office equipments and Furniture / fixture items, from time to time for efficient working of its staff. II. Recurring nature All expdr. of recurring nature viz. CTO of support services, electricity/water charges, repairs and annual maintenance of office equipments, other misc. expenditure, incidental to the functioning of PIDB office, is met under this sub-head. RE - As PIDB could not fully utilize provision of Rs. 302 lac during, the same is proposed to be curtailed to Rs lac. BE - To meet expenditure of above nature, a provision of Rs lac is proposed for. Items wise details of the revised outlay for and are given vide ANNEXURE- G 6. Building Rent RE- (a) PIDB office building SCO , Sector 34-A, Chandigarh (hired w.e.f ) EC of PIDB in its 111 th meeting held on has approved extension of Lease agreement of PIDB office building for another five years ( to ). The rent has been approved at Rs. 14,96,273/- p.m. w.e.f with 5% annual increase. The revised rent payment liability for F.Y. works out as under:- (Rs. in lac) SCO Apr-Sep Rs lac x 6 months Oct 13-Mar *15.71 lac x 6 months Total Add: Service 12.36% Grand Total Accordingly, the existing provision is proposed to be revised from Rs lac to Rs lac for. BE- A provision of Rs lac is proposed for payment of rent during, as under:- (Rs. in lac) SCO Apr-Sep Rs lac x 6 months Oct 14-Mar *16.46 lac x 6 months Total Add: Service 12.36% Grand Total Or say * 5% increase in basic rent (i.e. on Rs lac) is due to be allowed from Page 10

11 Actual expdr. (1) (2) (3) (4) (5) (6) (7) (b) Chief Engineer (IP), PWD (B&R) office SCO , Sector 34-A, Chandigarh (hired from ) PIDB had hired one floor accommodation for the office of Chief Engineer (IP), Pb. PWD B&R w.e.f The existing lease agreement expired on PIDB, with the approval of EC in its 104 th meeting held on , has entered into fresh lease agreement with the owner from at revised monthly rent of Rs /- with 10% annual increase on basic rent, for five years upto BE- Taking into consideration the annual increase of 10% in the basic rent (Rs. 95,000/-), a provision of Rs lac is proposed during. 7. Telephones Vehicle running and maintenance There are 16 nos. telephones (11 nos. at PIDB office and 5 nos. at CE(IP) office. Besides, expdr. of 3 nos. residence telephones of TA, GM(L) and XEN (CE-IP) is also being borne by PIDB. Facility of Data Cards (11 nos.) has been provided by PIDB to its officers. Besides, facility of mobile phones (restricted to Rs per month) has been extended to the Additional Managing Director, Technical Advisor, two General Managers and Assistant General Manager (Estates & Projects) of PIDB. BE- A provision of Rs lac is proposed during. RE- There was one car with MD, PIDB and 2 pool Cars with PIDB office. Two cars are with CE (IP) office. On completion of projects, 3 vehicles purchased as a component of project cost, on becoming surplus (from ) have been allotted to the AMD (1), TA (1) and third retained in Pool. Thus PIDB is bearing running and maintenance expenses of nine vehicles as under:- Pool Vehicles (4), MD (1), AMD (1), TA (1) and CE- IP (2). The expdr. on Petrol/diesel and their repair / maintenance is being regulated under the Pb. Govt. instructions. BE- Due to increase on one vehicle and frequent hike in the rate of Petrol/Diesel, a provision of Rs lac is proposed during. 9. License Fee (Rent) Govt. Accommodation RE- Licence Rs /- p.m. has been deposited with PWD B&R for the house alloted to MD, PIDB w.e.f to Thus provision of Rs lacs is proposed in the RE. Total (1) to (9) BE- Licence Rs /- p.m. for house alloted to MD, PIDB is to be paid from April 2014 to 31 st March, Thus a provision of Rs lacs is proposed during BE. Or say The expenditure on individual items ( no. 1 to 10 above) can vary but the overall expenditure taken together under this SOE should not exceed the proposed provision of Rs lac during. Page 11

12 Annexure I Explanatory Memo. to the Receipt of PIDB for the Financial Year (referred to against Receipt - page 2) I- RECEIPT () (i) Opening Balance: Rs. (+) crore There had been an opening balance of Rs cr. at the beginning of financial year. After giving effect of anticipated receipt and estimated expdr. during the financial year, the likely closing balance as on works out to Rs. (+) crore. Accordingly, the same has been adopted as an opening balance for the ensuing Financial Year. Actual figures of opening balance as on would be available only during May/June 2014, when the Accounts of PIDB for would be finalized. (ii) Infrastructure fee : Rs crore The rate of I.D. fee on Agricultural produce items was enhanced from 2% to 3% w.e.f 24 th September FCI has been depositing I.D. 3% w.e.f. 24 th September 2008 on its share of procurement of Wheat and Paddy for the Central Pool. FCI is, however, not allowing I.D. 3% to other State Procuring Agencies procuring foodgrains for the Central Pool. The matter, in this regard, is being followed up with the GOI at the level of Food Department, Punjab. Consequently, the state procuring agencies have deposited I.D. Fee on Wheat and Paddy only 2% upto During, PIDB received I.D. Fee on 3%. Accordingly, it is assumed that PIDB will also get I.D. during, as under: - (Rs. in cr.) (i) 3% : (ii) 3% : (ii) Re. 1 per ltr. : Total : (iii) Interest on funds temporary parked with Banks: Rs crore All types of receipt, which PIDB gets is credited into Punjab Infrastructure Development Fund (PIDF). PIDB has also created Punjab Infrastructure Initiative Fund (PIIF) with contribution from PIDF, which is utilized for Project development activity like; payment of professional fee to the Transaction Advisors/Consultants, tenders/eoi related advertisements, etc. of the projects. PIDF is utilized to meet expenditure on all other activities of PIDB. The surplus funds are temporarily parked with the Banks at competitive interest rates. Besides, PIDB is required to keep funds of Rs. 75 crore per annum in the sinking funds for 10 years ( to ) to accumulate Rs. 750 crore for repayment of principal amount of Bonds of Rs. 750 crore in five equal installments of Rs. 150 crore each, from to The interest earned on this accumulation is, however, utilized on PIDB s activities. The funds, as are kept in deposit earn interest. During, these deposits are likely to earn interest amounting to Rs crore (approx.) (iv) Loan recoverable: Rs crore PIDB, with the approval of EC, had extended loans to various Departments, PSUs, Authorities, etc., for their infrastructure projects. EC in its 97 th meeting held on had decided that all loans given to Govt. Departments (earlier/future) would be interest free and that to others will carry interest at the rate of 5.50% p.a. All such loans are, however, returnable in 60 equal monthly installments. GMADA and Department of Cultural affairs have returned Rs. 60 crore and Rs crore respectively ( ) towards repayment of Principal amount of loans but have not returned the due interest thereon. The remaining Departments/PSUs/Authorities have not returned the loans, so far. Page 12

13 PIDB anticipates to get repayment of such loans alongwith due interest (as accrued upto ) during, as under: - Departments/ PSUs 1. GMADA Purpose of loan International Airport at Mohali Land Acquisition Principal Amount of loan Loan + interest likely to be returned to PIDB during (Rs. in cr.) Or say MC, Bathinda Blue Fox Property, Bathinda MC, Bathinda Development and Sew. Works, Bathinda MC, Ludhiana Infrastructure Dev. At Ludhiana PWSSB Sewerage Treatment Plant Dasuya PWSSB Sewerage Scheme, Malout PWSSB 8. Industries and Commerce 9. PHSC (Rs lac) Water Supply, Sewerage and STP project Ropar Consultancy fee for leather projects at Jalandhar Development Works under Guruta Gaddi Diwas Celebrations Total (1 to 9) *60.00 (v) Misc. receipts: Rs crore Misc. receipt on account of tender money/bid documents (Rs crore) and other misc. receipts (Rs crore), making a total of Rs crore is anticipated during. (vi) Net Toll receipt, Concession fee, User fee: Rs crore As per provisions of the relevant Concession agreements, PIDB anticipates to receive fee of Rs crore during from the Concessionaires of the following projects - Projects Rate of fee 1. O&M of Ropar-Phagwara Road Rs. 96 lac per month 2. O&M of Jagraon-Nakodar Road Rs. 9 lac per month 3. O&M of Kiratpur Sahib-Una Road Rs lac per qtr. (Rs. in crore) Fee likely to be received 5.18 Net toll fee Total do Concession fee (vii) Receipt under OUVGL Scheme: Rs crore PIDB has received only Rs crore during (upto ) from auction of OUVGL properties. It is anticipated that during the remaining three months period, PIDB would receive Rs crore from auction of OUVGL properties. Accordingly, for, PIDB anticipates receipt of Rs crore (approx.) from auction of such properties. However, it will depend upon the market conditions prevailing at the relevant time - whether we actually get this money or not. Page 13

ENQUIRY. Sub. Inviting sealed Quotations for appointment of Internal auditor for Maharashtra

ENQUIRY. Sub. Inviting sealed Quotations for appointment of Internal auditor for Maharashtra Department of IT, Ministry of Communication & Information Technology, Govt. of India. ---------------------------------------------------------------------------------------------------------- International