Description / Scope of Work
Pakistan Agricultural Storage and Services Corporation Limited (PASSCO), Finance Wing, invites offers from eligible commercial and Islamic banks for obtaining commodity operation financing to the value of up to PKR 533 billion for wheat procurement (outstanding and fresh stock) for the quarter July to September 2026. This financing facility aims to regularize PASSCO's outstanding loan obligations for commodity operations during the specified quarter. The borrowing spread for this facility shall be locked for 03 months from July 26 to September 26, 2026, and may be fixed for the next quarter subject to the willingness of PASSCO and winning banks.
Eligibility is restricted to all commercial banks, including conventional and Islamic banks, regulated by the State Bank of Pakistan. Banks must comply with PASSCO's bidding format and provide mandatory compliance certification, otherwise bids will be rejected. Each bank must quote a three-month KIBOR plus a fixed spread (in basis points). Bids will be ranked from lowest to highest, with the lowest bid being the bid quoting the lowest spread against the relevant benchmark KIBOR rate. Conditional markup rates, slab markup rates, and bids with time limit conditions are not accepted. If any bank backs out from its given offer, PASSCO may blacklist that bank for future borrowings.
Bids shall be submitted through PPRA's EPAC System for the lowest markup rates under commodity operation financing of wheat for the quarter July to September 2026. The bid validity period is 03 months from July 26 to September 26, 2026. Markup on repayment shall be calculated at the end of the period based on the lowest applied rate and the outstanding amount on each date during the repayment period. The three-month KIBOR as of June 30, 2026 shall be used for markup or profit calculation. No bid shall be considered if received manually or after the submission deadline. Bid validity commences from the last date of the bid submission deadline.