Tender Details
Description / Scope of Work
Punjab Housing Corporation Limited, a government-owned public limited company incorporated in March 2010 and based in Lahore, Punjab, invites sealed proposals from chartered accountant firms for appointment of external auditors to conduct financial statement audits for the financial years ending June 30, 2017 to June 30, 2026. The engagement is governed by the Companies Ordinance 1984 (as amended by the Companies Act 2017) and ISA-200 standards. PHC's principal activity is providing affordable and decent housing to economically disadvantaged populations throughout Punjab. Proposals must be submitted in two copies to the Company Secretary at the registered office, 1-A Off Club Road, G.O.R. 1, Lahore, on or before November 3, 2026 at 1030 hours, with technical bids to be opened immediately thereafter and financial bids opened subsequently. The term of engagement is initially one year, with potential for a two-year contract subject to satisfactory performance and Board approval.
Eligible bidders must be chartered accountant firms with satisfactory Quality Control Rating from ICAP (Institute of Chartered Accountants of Pakistan), current registration with the relevant professional body, and a clean record with no blacklisting by any government department or authority. Bidders must submit complete firm profiles, recent ICAP QCR ratings, confidentiality declarations, and affidavits confirming the accuracy and completeness of all submitted documentation. The selection process employs Quality and Cost Based Selection methodology under a single-stage two-envelope approach, with eighty percent weightage allocated to technical evaluation and twenty percent to financial evaluation.
Technical evaluation criteria include the number of ICAP-qualified partners and staff, combined experience with government and semi-government organizations plus construction and real estate sector work, and experience with engagement partners. The financial proposal must be sealed separately and include the firm's name, authorization certification for the signatory, and all-inclusive audit fees covering direct costs plus out-of-pocket expenses, with tax deducted as per applicable law. Further details regarding the company's activities and financials are available at www.pldc.gop.pk. Interested firms should contact the Company Secretary directly for clarifications or additional information.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender, written with AI from the official notice and checked by our quality rules — not part of the official notice. Always confirm details against the original tender document.
PHC seeks external auditors for a ten-year audit engagement covering FY2017–2026, a substantial multi-year contract for a government housing corporation.
The tender emphasizes ICAP qualification, government sector experience, and past work with semi-government and construction clients. The evaluation is 80:20 technical-to-cost weighted, indicating quality is prioritized. Tight submission timeline (three weeks to November 3, 2026) and structured two-envelope process suggest a formal procurement. Renewal into a second two-year term is possible under performance. Firms with strong ICAP credentials and demonstrated public sector audit experience are positioned favorably.
Who can bid: Bidders must be chartered accountant firms registered with ICAP holding current satisfactory Quality Control Rating. Typical requirements include Pakistan-registered partnership or company status, valid SECP/professional registration, NTN compliance, and zero blacklisting record with government. The notice specifies ICAP registration; PEC category does not apply. No formal bid security amount is stated; cost bids must include auditor fees plus expenses with taxes deducted per law.