Group Insurance Premium Rates for Employees of University of Engineering and Technology Lahore

The University of Engineering and Technology (UET) Lahore invites proposals from well reputed Insurance Companies duly licensed by the Securities and Exchange Commission of Pakistan (SECP). The tender requires companies with at least an AA Insurer Financial Strength (IFS) rating by any SECP-recognized credit rating agency to offer premium rates for Group Insurance covering employees of UET Lahore. The coverage includes 5 years post-retirement (previously) up to age 65, as per Government of Punjab schedule. Items being procured: - Insurance coverage for employees with Basic Pay Scale 1 to 4 (Insurance Amount 150,000 PKR) - Insurance coverage for employees with Basic Pay Scale 5 to 10 (Insurance Amount 175,000 PKR) - Insurance coverage for employees with Basic Pay Scale 11 to 15 (Insurance Amount 300,000 PKR) - Insurance coverage for employees with Basic Pay Scale 16 (Insurance Amount 450,000 PKR) - Insurance coverage for employees with Basic Pay Scale 17 (Insurance Amount 600,000 PKR) - Insurance coverage for employees with Basic Pay Scale 18 (Insurance Amount 875,000 PKR) - Insurance coverage for employees with Basic Pay Scale 19 (Insurance Amount 1,050,000 PKR) - Insurance coverage for employees with Basic Pay Scale 20 and above (Insurance Amount 1,250,000 PKR) The procurement is conducted through the Punjab E-Procurement System website. Bidding documents must be submitted online by 10:00 a.m. on 2026-08-05. The proposals will be opened the same day at 10:30 a.m. Manual bids are not accepted. A bid security of Rs. 50,500 (2% of the estimated premium amount) must accompany each bid electronically as per Punjab E-Procurement System regulations. This tender requires bidders to be registered on the Punjab E-Procurement System and to comply with all technical and financial bid requirements. The University reserves the right to reject any or all bids prior to acceptance under Rule 35 of Punjab Procurement Rules 2014. For eligibility, bidders must be licensed insurance companies with the required SECP rating and must follow the online submission process strictly. The tender documents and detailed terms are available free of cost on the PPRA Punjab website and Punjab E-Procurement System. A practical tip for bidders: Ensure your company’s SECP license and AA IFS rating documentation is up to date and uploaded correctly on the E-Procurement portal. Late or incomplete submissions will be rejected. Early registration and bid preparation on the Punjab E-Procurement System will help avoid last-minute technical issues.