New Delhi, July 31 -- In a major policy overhaul aimed at curbing loopholes in the tendering process, the Public Works Department (PWD) has introduced a new clause mandating an additional performance guarantee (APG) from contractors who quote "abnormally low rates" in bids for infrastructure projects. The move is aimed to deter speculative bidders and ensure timely and quality execution of public work, said officials. The decision was announced on Wednesday by PWD and Water minister, Parvesh Verma, who said that the trend of quoting unrealistically low prices has led to delays, poor construction quality and in some cases, project abandonment, costing both time and taxpayer money. "This is about accountability and respect for public funds. C...