The market forces will determine the fair price of the vehicle to be scrapped.
"There is no intervention by the Government in determination of fair price of private vehicles to be scrapped.
The price of these vehicles is decided by the market forces as per the condition of the vehicle to be scrapped" said Gadkari The minister also noted that the Reserve Vehicle Scrapping Facility (RVSF) units, set up as private entities, are responsible for determining the price based on vehicle condition.
On compensating vehicle owners, the minister stated that while government vehicles have a reserve price determined by the Ministry of Steel, private vehicles' scrap value is decided by the market forces.
This story is from the December 01, 2024 edition of The Sunday Guardian.
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This story is from the December 01, 2024 edition of The Sunday Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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