Tender Details
Description / Scope of Work
The Bank of Punjab, Lahore, invites bids for the renewal of its Group Health Insurance Policy covering both conventional and Takaful (Islamic) insurance products for the period 2026-2027. The procurement is divided into two separate lots: Lot 1 for Takaful insurance with an estimated cost of Rs. 76,000,000 and Lot 2 for Conventional insurance with an estimated cost of Rs. 439,000,000. The scope encompasses comprehensive health insurance coverage for the bank's employees across all branches and offices operating throughout Pakistan. This is a renewal contract for existing services, indicating the bank's continued requirement for integrated health insurance solutions meeting both conventional and Sharia-compliant needs of its workforce.
Bidders must submit bids through the Punjab e-Procurement System (eP) at https://ep.punjab.gov.pk. A bid security of 2 percent of the estimated cost for each lot must be submitted separately through Bank Guarantee or 1-link facility via generated PSID Number in favor of The Bank of Punjab. Bidders are required to comply fully with the Bidding Documents; alternative bids will not be accepted. All prices quoted must be inclusive of applicable taxes and quoted solely in Pakistani Rupees. The bidding process follows PPRA rules under a Single Stage – Two Envelope procedure, meaning technical and financial bids are evaluated separately.
Bid documents are available free of cost from the PPRA website and the Punjab e-Procurement System. Bids must be uploaded by 8 October 2026 at 11:00 AM, with technical bids opening on the same date at 11:30 AM. The bid validity period is 90 days from the closing date. Bidders must complete Schedule-B (Price Schedule) clearly and ensure all quoted prices include costs for services at designated sites throughout Pakistan. For further information, contact the Centralized Procurement Department at The Bank of Punjab Head Office, 1st Floor, BOP Tower, 10-B, Block E/II, Main Boulevard, Gulberg III, Lahore, Phone: 35761601, Email: procurement@bop.com.pk.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
Bank of Punjab seeks renewal of dual-track health insurance covering conventional and Takaful products for 2026-2027, representing approximately Rs.
515 million combined across two separate lots. This is a recurring contract renewal rather than a new procurement, suggesting an opportunity for incumbent or competitive providers. The tight deadline (8 October 2026) and requirement for separate bid security per lot demands careful administrative preparation. Scale indicates a large organization with nationwide branch coverage requiring integrated health insurance management.
Who can bid: Typically, bidders must be registered insurance companies licensed by the State Bank of Pakistan or Securities and Exchange Commission of Pakistan. Specific eligibility criteria are referenced in Schedule-A of the bidding documents. The notice requires compliance with all bidding document terms; no specific restrictions on company type are stated, but licensed insurers operating in Pakistan are standard.