Auction of Space for Establishment of Bank Branch at Old P&D Site Lahore

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. The Welfare Wing, Services & General Administration Department, Government of the Punjab, invites bids through open auction / competitive bidding for renting out two rooms situated on the Ground Floor of the Old School Education Building, Old P&D Site, Lahore. The office compound of Chief Inspector of Industries (COIT), Lahore, having a total covered area of 320 square feet, is offered for establishment and operation of a commercial bank branch. Items being auctioned: - Two rooms on Ground Floor, Old School Education Building, Old P&D Site, Lahore (320 sq.ft) The premises shall be rented out to the highest evaluated responsible bidder, subject to approval of the competent authority and completion of all codal and legal formalities. The minimum monthly rent is fixed at Rs. 42,500/- (Rupees Forty-Two Thousand Five Hundred Only), as assessed by Director, Excise & Taxation, Region-A, Lahore. The premises shall be used exclusively for establishment and operation of a bank branch and allied banking services. No other use shall be made without prior written approval of the Competent Authority. The successful bidder shall not sublet, transfer, assign or otherwise part with possession of the premises, wholly or partially, to any other person or entity. All expenses relating to interior works, fixtures, fittings, installation of equipment, utilities, applicable taxes, duties and other statutory charges shall be borne by the successful bidder. No structural alteration or modification shall be carried out without prior written approval of the Procuring Agency. Each bidder shall furnish a Bid Security of Rs. 20,000/- (Rupees Twenty Thousand only) in the form of CDR / Bank Draft in favor of the Section Officer (Welfare-I), S&GAD, along with the financial bid. In case the successful bidder fails to execute the contract agreement or complete the required formalities within the stipulated period, the Procuring Agency may cancel the award and take further action in accordance with the applicable rules and conditions of the bidding documents. The monthly rent shall be paid regularly in advance quarterly in the manner and within the period specified in the contract agreement. The successful bidder shall be responsible for the proper upkeep and routine maintenance of the premises during the contract period. The contract shall initially be awarded for a period of three (03) years, subject to the terms and conditions incorporated in the formal contract agreement. Any extension or renewal shall be subject to approval of the competent authority and applicable rules. The Procuring Agency reserves the right to accept or reject any or all bids in accordance with the applicable laws, rules and regulations, without assigning any reason. Interested eligible banks may inspect the premises during office hours and obtain the bidding documents from the office of the undersigned. The bank should have: - AAA JCR Rating - Maximum Global Reach - Leading market presence in customer base - Maximum remittances, foreign exchange - Corporate/institutional banking Last Date & Time for Submission of Bids: 15.10.2026 11:00 A.M Date & Time of Opening of Bids: 15.10.2026 01:00 P.M For further information, interested banks may contact the office of the undersigned during working hours.