AUCTION: Disposal of Redundant Transmission Lines by Islamabad Electric Supply Company (IESCO)

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. Islamabad Electric Supply Company (IESCO) invites bids for the disposal of redundant transmission line materials located in Islamabad. This auction offers bidders the opportunity to acquire various lots of transmission line scrap on an 'as is where is' basis. The disposal is managed by the Material Management Directorate of IESCO, Islamabad. Items being auctioned include: - Redundant Transmission Line Material (various types and quantities as inspected by bidders) Bidders are responsible for inspecting the materials prior to bidding and must satisfy themselves regarding the type, quality, and condition of the items. The successful bidders will dismantle and remove the materials at their own cost within 35 working days of receiving the Release Order. Failure to remove materials on time will result in rental charges of 1% per day of the total value of the disposed material until removal. Earnest Money in the form of a CDR or bank guarantee valid for 120 days must be submitted in the name of the Chief Executive Officer IESCO Islamabad before the bid closing time. Payment for the successful bid must be made unconditionally within 21 working days of the Letter of Acceptance issuance. Taxes including 18% GST and 10% Income Tax or any other government levies will be applicable on the bid price. The CEO IESCO Islamabad reserves the right to accept or reject any bid or cancel the auction without assigning any reason. Extensions of time for payment or removal may be granted under force majeure conditions. Bidders must ensure their firms are not blacklisted by any government or related entities. Payment will only be accepted via CDR. The Earnest Money of the second highest bidder will be retained until the successful bidder deposits the full amount. This auction is a valuable opportunity for scrap dealers and contractors specializing in transmission line materials. Interested parties should prepare their bids carefully, ensuring compliance with all terms and conditions. Early inspection and timely submission of earnest money are recommended to avoid disqualification. The auction is conducted in Islamabad, and all correspondence and submissions should be directed to the Material Management Directorate, IESCO Headquarters, Islamabad. The closing date for bid submission is **30 June 2024**. Bidders should note the strict timelines and payment conditions to avoid forfeiture of earnest money.