Procurement of Actuarial Services for State Bank of Pakistan and SBP Banking Services Corporation

This tender invites qualified actuarial firms to provide expert actuarial valuation services for the State Bank of Pakistan and SBP Banking Services Corporation in Karachi, Sindh. The assignment covers actuarial valuations of employee benefit liabilities including pension, gratuity, benevolent fund scheme, post-retirement medical facilities, income continuation plan, severance benefits, and compensated absences for the financial years ending June 30, 2026, 2027, and 2028. The scope requires adherence to International Accounting Standard (IAS) 19 and professional actuarial standards, with separate reporting for SBP and SBP BSC. The volume of work involves detailed data on active and retired employees across multiple benefit schemes. The consultancy demands a thorough understanding of actuarial methodologies and the ability to deliver comprehensive reports within four weeks of data provision. The firm must be led by a Fellow Actuary and demonstrate relevant experience in similar valuations. The assignment includes compliance with PEC and FBR requirements, with firms required to be on the Active Taxpayers List and free from blacklisting or conflicts of interest. The contract will be awarded based on technical eligibility and lowest financial cost, with a bid security of PKR 100,000 and a performance guarantee of 5% of the contract value. Submission of proposals is strictly electronic via the E-PADS portal by 11:00 AM on March 9, 2026, with technical proposals opened the same day at 11:30 AM. The physical address for submission of original proposal security is the General Services Department, 3rd Floor, BSC House, I.I Chundrigar Road, Karachi. The contract price is fixed in PKR and subject to applicable taxes. Stamp duty payment is the responsibility of the successful bidder. Proposals must include detailed technical and financial documentation as per the RFP forms. Firms are advised to attend the pre-proposal meeting via Zoom on February 20, 2026, at 11:00 AM. The tender emphasizes strict adherence to ethical standards, conflict of interest disclosures, and anti-corruption measures. Pro-Tip: Ensure timely submission of the original proposal security to avoid disqualification, and carefully review the technical eligibility criteria to meet the minimum score before financial bid opening.