Description / Scope of Work
The Bank of Punjab, headquartered in Lahore, Punjab, invites competitive bids for the renewal of its Group Health Insurance Policy for the period 2026-2027, covering both conventional and Takaful (Islamic) insurance options. The procurement is divided into two lots: Lot 1 for Takaful coverage with an estimated cost of Rs. 75,996,676 and Lot 2 for Conventional coverage with an estimated cost of Rs. 438,887,574. The bidding process will be conducted in accordance with Public Procurement Rules (PPRA) regulations using a single-stage, two-envelope procedure. The scope covers group health insurance services for all bank employees across all operational locations throughout Pakistan. All interested insurance companies and bidders are invited to submit their proposals for either or both lots.
Prospective bidders must submit a call deposit or undertaking (UC) equivalent to 2 percent of the estimated cost for each lot in which they wish to bid. For Lot 1 (Takaful), the required bid security is Rs. 1,519,933.52, and for Lot 2 (Conventional), it is Rs. 8,777,751.48. Bidders must be registered insurance companies licensed to operate in Pakistan and capable of providing comprehensive group health insurance coverage. All prices quoted must be inclusive of applicable taxes and levies. Bids must be submitted only in Pakistani Rupees, and bidders should ensure their proposals fully comply with the technical specifications and terms outlined in Schedule-A of the bidding documents.
Bid documents are available for free download from the PPRA website and E-PADS Portal. The sealed envelope containing the 2% call deposit or UC must be delivered to the Head of Centralized Procurement at The Bank of Punjab, 1st Floor, Head Office, BOP Tower, 10-B, Block E/II, Main Boulevard, Gulberg III, Lahore, and deposited in the designated bid box. Online bids must be uploaded through the E-PADS portal by July 3, 2026, at 11:00 AM, with technical bid opening scheduled for the same date at 11:30 AM. Bids must remain valid for 90 days from the closing date. For further information and clarifications, bidders may contact the Centralized Procurement Department at telephone numbers 35773826 or 35761601, or email procurement@bop.com.pk.