(1) When preparing the cost estimate of the goods, the public body shall prepare it subject to Rule 9 and the specification of the related goods.
(2) According to sub-rule (1) while preparing the cost estimate of the goods, the following points should be taken as basis:-
(a) the actual cost incurred by the concerned public body or other public body of the district where such public body is located in the current or previous years in the procurement of the same nature,
(b) Price prevailing in the local market,
(c) Prevailing prices in other markets and estimated shipping costs to the place of supply of the goods,
(d) Rates issued by the Chamber of Commerce and Industry.