Description / Scope of Work
The Ministry of Finance, Government of Pakistan is seeking to engage a qualified Independent Verification Agency (IVA) to support the implementation of the Accelerating State-Owned Enterprises (SOE) Transformation Program, a results-based lending operation supported by the Asian Development Bank. The program targets 40 commercial state-owned enterprises and the National Highway Authority (NHA) across Pakistan, with implementation from December 2025 to December 2030. The IVA will be responsible for independent verification of Disbursement-Linked Indicator (DLI) achievement across six DLIs, assessment of Program Action Plan (PAP) implementation, validation of non-DLI results framework indicators, and confirmation of baseline data. ADB's US $400 million financing is linked to verified achievement of these DLIs. The assignment scope includes verification services related to compliance with the SOEs (Governance and Operations) Act 2023, International Financial Reporting Standards (IFRS) compliance, Public Service Obligation (PSO) framework, corporate governance improvements, and service performance and financial sustainability enhancements of the National Highway Authority.
Eligibility is open to national firms, organizations, or institutions with experience in conducting verification, monitoring and evaluation, governance assessment, due diligence or related services. Eligible bidders include audit firms, management consulting firms, development consulting firms, research institutions, think tanks, and policy institutes. Bidders may participate as individual firms or as consortiums with one designated lead. Each firm may participate in only one bid. A bid security equivalent to PKR 1 million must be submitted in the form of a pay order in favor of Central Monitoring Unit, Finance Division. The successful bidder will be required to submit a performance guarantee of PKR 1 million within 15 days of contract award. Technical proposals must not exceed 20 pages and financial proposals must not exceed 5 pages.
Bids must be submitted electronically through E-PADS (http://eprocure.gov.pk) by 2nd July 2026 before 4:00 PM PST and will be opened on the same day at 4:30 PM PST. Bidders must register on the E-PADS Public Procurement Regulatory Authority (PPRA) portal. Request for Proposal documents with detailed terms of reference are available through the Finance Division website (www.finance.gov.pk) or PPRA website (www.PPRA.gov.pk). The selection will be based on Quality and Cost-Based Selection with technical proposals carrying 80% weightage and financial proposals 20% weightage. For clarifications, contact Dr. Qaiser Rafique, Unit Head, Central Monitoring Unit, Finance Division, Room 5 Ground Floor, Kohsar Complex, Pak Secretariat, Islamabad at Ph: +92 51 9218886, Fax: +92 51 9218887, or Uh.cmu@finance.gov.pk no later than five working days before the submission deadline.