Description / Scope of Work
Pakistan Reinsurance Company Limited (PRCL), under the Ministry of Commerce, seeks to appoint an independent audit firm to conduct a comprehensive review of the company's IFRS 17 implementation framework and dry run results. This consultancy services procurement is planned for the fiscal year 2026-27 with reserved funds allocated for eligible contract payments. The scope encompasses detailed review and assessment of PRCL's IFRS 17 readiness, implementation processes, and test run outcomes to ensure compliance with International Financial Reporting Standards. The project is being conducted nationally and is referenced under P52550.
Eligible bidders must be registered on the ePADS v2.0 platform and comply with Public Procurement Rules 2004 requirements. All proposals must include bid security in the form of a pay order, bank guarantee, or bid securing declaration as prescribed in the bidding documents. The procurement follows a Single Stage-One Envelope procedure using Open Competitive Bidding methodology with Least Cost Based Selection (LCBS) technique to evaluate and select the most qualified and cost-effective audit firm.
The complete e-bidding documents containing detailed terms, conditions, specifications, and requirements are available on the e-Pak Acquisition and Disposal System (ePADS) at https://epads.gov.pk/opportunities/federal/procurements/52550. Proposals must be submitted through ePADS v2.0 on or before Thursday, July 23, 2026 at 11:00 AM, with opening scheduled for the same day at 11:30 AM. Manual submissions are not accepted. For further information, contact the Procurement Specialist at Pakistan Reinsurance Company Limited, PRC Towers, Lalazar Drive, M.T. Khan Road, Karachi, via phone +92-300-699-8576 or email aghafoor@pakre.org.pk.