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91Dy.Ex. Engr.K 1 = Percentage of labour component as indicated above.L 0 = Basic Consumer price Index for Pune centre shall be average priceindex for the quarter preceding the month in which the last dateprescribed for receipt of tender, falls.L 1 = Average consumer price index for Pune centre for the quarter underconsideration.(2) Formula for Material ComponentV 2 = 0.85 x P x { K 2 x ( M 1 - M 0 ) } where,100 M 0V 2 = Amount of price variation in Rupees to be allowed for Materialscomponent.P = Same as worked out for labour component.K 2 = Percentage of material component as indicated above.M 0 = Basic wholesale price Index shall be average wholesale price index forthe quarter preceding the month in which to the last date prescribed forreceipt of tender, falls.M 1 = Average wholesale price index during the quarter under consideration.(3) Formula for Petrol , Oil, and Lubricant ComponentV 3 = 0.85 x P x { K 3 x ( P 1 - P 0 ) } where,100 P 0V 3 = Amount of price variation in Rupees to be allowed for POL component.P = Same as worked out for labour component.K 3 = Percentage of Petrol, Oil and Lubricant component.P 0 = Average Price of HSD at Mumbai during the quarter preceding themonth in which the last date prescribed for receipt of tender falls.P 1 = Average price of HSD at Mumbai during the quarter underconsideration.(4) Formula for Bitumen ComponentV 4 = QB x ( B 1 - B 0 )where,V 4 = Amount of price variation in Rupees to be allowed for Bitumencomponent.QB = Quantity of Bitumen (Grade) in metric tones used in the permanentworks and approved enabling works during the quarter underconsideration.B 1 = Current, average ex-refinery price per metric tonne of Bitumen (Grade)under consideration including taxes (octroi, excise, sales tax) during thequarter under consideration .B 0 = Basic rate of Bitumen in rupees per metric tonne as considered forworking out value of P or average ex-refinery price in rupees per metricton including taxes (octroi, excise, sales tax) of Bitumen underSignature of Contractor No. of corrections Executive Engineer