AUCTION: Gold Ornaments Unclaimed by U Microfinance Bank Limited

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. U Microfinance Bank Limited, headquartered in Islamabad, is conducting a public auction of unclaimed gold ornaments that were pledged as collateral against loans. These items have remained unclaimed despite repeated notices to the original borrowers. The auction will be held at the bank's Head Office in Islamabad, and interested parties are invited to participate in accordance with the bank's auction policy. Items being auctioned: - Gold ornaments (various types and weights, pledged as security for loans, unclaimed by borrowers) The auction is scheduled for 28 September 2026 at 11:00 AM at the U Microfinance Bank Limited Head Office, G-8/4, Islamabad. All gold items will be available for inspection prior to the auction, and details regarding the quantity, type, and weight of each lot can be obtained from the bank's office during working hours. The auction will be conducted in the presence of the bank's authorized committee, and the highest bidder for each lot will be required to deposit the full bid amount immediately after the auction is concluded. Eligibility to participate is open to all interested individuals and firms. Bidders must bring valid CNICs and are required to deposit earnest money as specified by the bank before the auction begins. The successful bidders will be responsible for all applicable taxes and duties as per government regulations. The bank reserves the right to accept or reject any bid without assigning any reason. A practical tip for bidders: Arrive early to inspect the gold items thoroughly and ensure you have the required earnest money and identification documents ready for a smooth participation process.