Disposal of Vehicles through E-Bids by IESCO

The Islamabad Electric Supply Company Limited (IESCO) invites sealed electronic bids for the disposal of vehicles on an as-is-where-is basis under Tender No. 41. This disposal exercise is conducted through the Material Management Directorate at IESCO Head Quarters, Islamabad. The tender is open to eligible bidders across Federal territory and follows the PPRA Disposal Regulations 2024. Vehicles are offered in their current condition without any warranty or guarantee, and bidders must inspect items prior to submission of bids to satisfy themselves regarding type, quality and condition.

Bidders must submit earnest money or bid security in the form of a CDR or bank guarantee from a scheduled bank of Pakistan with a minimum rating of A+ or above, valid for 120 days, made in favour of the Chief Executive Officer IESCO Islamabad. The earnest money must be in the bidder's own name; deposits in other names will result in automatic rejection. Bids not supported by the required earnest money will be summarily rejected. Eligible participants must not be blacklisted by NGC, WAPDA, DISCOs, GENCOs or any government department or organization. The price quoted must be exclusive of all government taxes; advance 18 percent GST and 10 percent income tax or any other tax levied by government shall be applicable during the disposal contract.

Successful bidders must deposit the full amount within 10 working days of the Letter of Acceptance, failing which earnest money will be forfeited with no claims against IESCO. Upon full payment, the Material Management Directorate will issue a Release Order permitting vehicle removal from the site within 15 working days; failure to remove within this period will incur rental charges at 1 percent per day of the vehicle's total value. The earnest money of the second highest bidder will be retained until the successful bidder completes payment. Bid offers remain valid for 120 days or as specified in the bid schedule. The CEO IESCO reserves the right to accept, reject or cancel the tender invitation at any time without assigning reasons.

IESCO is disposing of vehicles through competitive sealed e-bidding under Tender 41. The notice emphasizes strict compliance: earnest money must be in the bidder's own name or bids face automatic rejection; 10-day payment deadline is non-negotiable with forfeiture as penalty; vehicle removal must occur within 15 days or incur 1% daily rental charges. Bidders face tight working-day timelines and must absorb all government taxes (18% GST, 10% income tax minimum). No inspection rights post-purchase are granted. Non-blacklisted firms with liquidity for earnest money and rapid mobilization capacity are the primary targets.

Who can bid: Bidders must be registered with relevant tax and regulatory authorities. Typically, SECP registration or NTN is required for corporate entities; sole proprietors must hold valid NTN. Firms must not be blacklisted by NGC, WAPDA, DISCOs, GENCOs or any government department. Bank guarantee must be from a scheduled bank with A+ or above rating. Foreign companies may participate if they meet Pakistani regulatory registration requirements.