AUCTION: Disposal of Unserviceable Material 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. The Islamabad Electric Supply Company (IESCO) invites bids for the disposal of unserviceable store material through e-bids under Tender No. 73. This auction is conducted in Islamabad and offers bidders the opportunity to acquire various unserviceable materials on an 'as is where is' basis. Items being auctioned include all unserviceable store materials currently held by IESCO, with no specific item list provided in the notice. Bidders are required to submit sealed earnest money/bid security in the form of CDR or bank guarantee from a scheduled bank of Pakistan with a minimum rating of A+ in favor of the Chief Executive Officer IESCO Islamabad. The earnest money must be valid for 120 days and submitted before the bid closing time. Bids without the required earnest money will be rejected. The successful bidder must make full payment within 21 working days from the issuance of the Letter of Acceptance, failing which the earnest money will be forfeited. Upon payment, a Release Order will be issued authorizing the bidder to remove the material from the site within 21 working days. Failure to remove the material on time will result in rental charges of 1% per day of the total value of the disposed material until removal is complete. Taxes including 18% GST and 10% Income Tax or any other government levies will be applicable on the offered bid price. The auction follows PPRA Disposal Regulations 2024 (amended to date). Bidders must ensure they are not blacklisted by any government or related entities. Force majeure conditions may be considered for extension of time for payment or material removal. Interested bidders should carefully inspect the materials before bidding as no claims will be entertained post-auction. The disposal committee reserves the right to accept or reject any bid or cancel the auction without assigning any reason. This auction provides a practical opportunity for suppliers and scrap dealers in Islamabad to acquire unserviceable materials with clear terms and conditions. Bidders are advised to prepare their earnest money and documents carefully and submit bids timely to avoid disqualification.