Financial Audit Services for PAVE Scheme

The Engineering Development Board EDB (Ministry of Industries and Production) Islamabad is procuring consultancy services for the financial audit of the Pakistan Accelerated Vehicle Electrification (PAVE) Scheme under the New Energy Vehicle Policy 2025-30. This program aims to subsidize 2.2 million electric two-wheelers and three-wheelers by June 2030 through government subsidies, bank lease support, and transparent disbursement mechanisms. Items being procured: - Financial Audit Services of the PAVE Scheme (1/Numbers) The scope includes auditing subsidy disbursements under the Subsidized Cash Purchase Scheme and Bank Lease Scheme, operational expenses, human resource expenses, administrative costs, third-party audit payments, portal-related expenses, and any other approved expenditures. The audit will verify claims, payments, bank reconciliations, compliance with Public Procurement Rules, financial management acts, tax laws, and NEV Policy guidelines. It will identify irregularities such as duplicate payments, fraud, misreporting, and non-compliance. The audit firm must maintain strict confidentiality and secure handling of all financial and related data. Eligibility criteria require firms to have at least 2 years of relevant audit experience, registration with FBR and ATL, registration with ICAP or equivalent, no blacklisting, and a minimum average turnover of PKR 15-20 million over the last 3 years. Key staff must include Chartered Accountants and audit professionals with relevant experience. The contract duration extends until June 2030, with assignments executed phase-wise and payments made semi-annually upon approval of deliverables. A 5% performance guarantee is required. The bid submission deadline is **August 4, 2026 at 02:00 PM** via EPADS v2.0, with technical bids opened the same day at 02:30 PM. Manual submissions are not accepted. Bidders should ensure timely registration on EPADS and submit all required documents including technical and financial proposals, bid security declaration, and performance guarantees. A practical tip for bidders is to carefully prepare a detailed audit methodology addressing risk-based approaches, sampling, reconciliation, and data integrity to meet the technical evaluation criteria and secure eligibility for financial bid opening.