Tender Details
Description / Scope of Work
Punjab Land Records Authority (PLRA) invites bids for procurement of insurance services through Takaful (Islamic insurance) to provide coverage for loans extended to PLRA employees. The tender is issued under reference PLRA/PROC/LOAN INSURANCE/2026 and follows a single-stage, one-envelope bidding process in line with PPRA Rules 2014. The contract will cover loan insurance protection for the authority's employee lending scheme, protecting both the employer and employees through Shariah-compliant insurance mechanisms. This is a specialized procurement requiring an insurance company licensed to provide Takaful services in Pakistan.
Eligible bidders must be registered insurance companies authorized by the Securities and Exchange Commission of Pakistan (SECP) to conduct Takaful business. Bidders are required to submit evidence of eligibility, qualification documents, and relevant registrations. A bid security deposit is mandatory as specified in the tender documents. The bidding process is transparent and follows public procurement regulations to ensure fair competition and value for money.
Bidding documents are available for download and submission follows electronic (e-bid) procedures as outlined in Section 2.4 of the tender. Bids must be submitted through the designated e-bidding platform by the closing date of October 5, 2026. The opening and evaluation of bids will proceed according to the criteria detailed in Sections E and F of the technical specifications. Interested bidders should carefully review all sections of the 72-page bidding document and contact PLRA for any clarifications before submission.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
PLRA seeks a Takaful insurance provider to manage loan coverage for its employee lending programme.
The procurement is specialized, requiring SECP-registered Takaful operators; conventional insurers are ineligible. Document volume (72 pages) and complex Islamic finance requirements indicate institutional scale. Single-year contract likelihood, though renewal potential exists. E-bidding mandatory; strong compliance and documentation discipline essential for submission.
Who can bid: Bidders must be SECP-registered insurance companies authorized to underwrite Takaful (Islamic insurance) business in Pakistan. Typically, NTN registration, audited financial statements for prior 2–3 years, and proof of Takaful license are required. No mention of minimum capital or premium thresholds in excerpt; full tender document review essential.