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Tender Details
Description / Scope of Work
Islamabad Electric Supply Company Limited (IESCO), one of Pakistan's leading power distribution companies serving over 4.1 million consumers across the Indus to Neelum region (Azad Jammu and Kashmir), invites offers from eligible banks for investment of Rs 13.426 million of the IESCO Employees Pension Fund Trust in Term Deposit Receipts (TDR) and Treasury Bills (T-Bills). This is a significant investment opportunity for institutional banking partners seeking secure fixed-income placements from a federal-level utility. The investment process will be conducted online via E-Pads Version 1.0 with bidding documents opening on 12 August 2026 at 11:00 AM at IESCO Headquarters, Street 40, Sector G-7/4, Islamabad. Only banks meeting stringent rating criteria are invited to participate in this tender.
Eligible participants are Public and Private Sector Banks, including Islamic Banks, that maintain a minimum Short-Term Credit Rating of A1+ and a minimum Long-Term Rating of AAA as determined by the State Bank of Pakistan's latest available credit ratings. Banks must submit two separate Offer Letters—one for Term Deposit Receipts and one for T-Bills with one year maturity. Applicants are required to bring a letter confirming their current Short-Term and Long-Term ratings issued by SBP. IESCO reserves the right to limit single-bank investment to a maximum of 20 percent of the total pension fund corpus (PKR 2.685 million maximum per bank).
Banks must register on E-Pads Version 1.0 to participate. Two hard copy offer letters must be submitted in separate envelopes before the 12 August 2026 deadline. Profit rate validity must remain effective for at least seven days from the closing date, extendable at IESCO's discretion. Bank representatives must attend the opening ceremony in person; attendance will be recorded. In case of government-declared holidays, strikes, or office closures affecting IESCO, the opening will be rescheduled to the next working day. The Management Investment Committee retains the right to cancel the bidding process under PPRA Rules 33(1), with final investment decision between TDR and T-Bills at committee discretion.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
IESCO is deploying Rs 13.426M pension fund corpus into fixed-income instruments (TDRs and T-Bills).
This is institutional treasury management rather than operational procurement—banks compete on profit rates within strict rating gates. Scale is moderate but recurring annually given pension fund cycles. The 20% cap per bank (Rs 2.685M max) signals intent to diversify counterparty risk; only top-tier rated banks qualify, eliminating smaller players. One-off closing date suggests annual redeployment rather than continuous bidding.
Who can bid: Only Public and Private Sector Banks (including Islamic banks) with SBP Short-Term Credit Rating A1+ minimum and Long-Term Rating AAA minimum qualify. Applicant must produce current SBP rating letter and register on E-Pads platform. Non-banks and lower-rated institutions are excluded. No PEC or SECP registration mentioned—banking sector regulation by SBP governs eligibility.