Disposal of Vehicles through E-Bids 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 vehicles through e-bidding. This auction is conducted under strict terms and conditions to ensure transparency and fairness. The vehicles are offered on an 'as is where is' basis, and bidders are responsible for inspecting the vehicles to satisfy themselves regarding the type, quality, and condition before submitting their bids. Items being auctioned include various vehicles as listed in the official disposal schedule. Each vehicle requires submission of earnest money in the form of a CDR or bank guarantee valid for 120 days, issued by a scheduled bank with a minimum rating of A+ in favor of the Chief Executive Officer IESCO Islamabad. The earnest money must be submitted before the bid closing time, and bids without the required earnest money will be rejected. Full payment for the successful bid must be made unconditionally within 10 working days from the issuance of the Letter of Acceptance. Failure to do so will result in forfeiture of the earnest money. Upon payment, a Release Order will be issued authorizing the bidder to take possession of the vehicle. Vehicles must be removed from the site within 15 working days, or rental charges of 1% per day of the vehicle's total value will be applied until removal. The auction follows PPRA Disposal Regulations, 2026. Taxes including 18% GST and 10% Income Tax or any other government levies will be applicable on the offered bid price. The Earnest Money of the second highest bidder will be retained until the successful bidder deposits the full amount. Bidders must ensure they are not blacklisted by any government or related organizations. The decision of the CEO IESCO Islamabad regarding any dispute on vehicle description is final. Payment must be made via CDR in favor of the CEO IESCO; other payment forms will not be accepted. Interested bidders should carefully review all terms and conditions and prepare their bids accordingly. A practical tip for bidders is to thoroughly inspect the vehicles beforehand and ensure timely submission of earnest money to avoid disqualification. This auction provides a valuable opportunity to acquire vehicles from a reputable public sector entity in Islamabad under clear and regulated conditions.