Tender Details
Description / Scope of Work
Punjab Thermal Power (PVT) Limited, a thermal power generation company based in Lahore, Punjab, invites qualified external audit firms to provide comprehensive audit, review and assurance services for a three-year tenure. The procurement, referenced as EAF-RFP-01/2026, is valued at Rs. 25 million over the full contract period and covers financial audit and related assurance engagements in accordance with applicable auditing standards and the Companies Act, 2017. The services are located in Lahore, Punjab, with the company's headquarters at Ground Floor 7 C-1, Gulberg-III.
Eligibility is restricted to audit firms that have been pre-qualified through the Expression of Interest process. Bidding firms must be registered with the Institute of Chartered Accountants of Pakistan (ICAP) or equivalent professional body, hold valid audit practice licenses, and possess documented experience in auditing power generation or thermal energy enterprises. All bids must be accompanied by a bid security of PKR 500,000 in the form of a CDR, bank guarantee, demand draft, or pay order as per EPADS requirements. The contract is subject to satisfactory performance review by the Audit Committee and Board of Directors, and formal appointment by shareholders at the Annual General Meeting.
Bid documents are available for download from Punjab Thermal Power's website (https://punjabthermal.com) and the e-Pak Acquisition & Disposal System (EPADS) portal at https://punjab.eprocure.gov.pk. E-bids, duly signed and stamped, must be submitted exclusively through the EPADS website before the deadline of 10 September 2026 at 3:00 PM. Technical proposals will be opened on 10 September 2026 at 3:30 PM in the PTPL Board Room, with bidders invited to attend. Financial bids of only technically qualified bidders shall be opened subsequently. The selection will follow the Quality and Cost Based Selection (QCBS) method under Punjab Procurement Rules, 2014. For further information, contact PTPL at +92 (42) 35750936-8 or Manager.Admin@punjabthermal.com.
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Three-year external audit engagement for a thermal power company valued at Rs.
25 million total. The contract is renewable subject to annual performance review and shareholder approval, providing potential for extended commercial relationship. Pre-qualification requirement limits competition to pre-vetted firms. Key consideration: engagement is subject to annual performance evaluation at audit committee and board level, suggesting reputational importance to the client. Notably, the closing date of 10 September 2026 lies in the future.
Who can bid: Pre-qualified firms only through EOI process. Must be registered with ICAP or equivalent professional body in Pakistan with active audit practice license. Experience in power generation or energy sector audits is expected. Typically, firms must hold valid practicing certificates from relevant regulatory authorities and demonstrate financial solvency and professional indemnity insurance.