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

The University of Engineering and Technology Lahore is inviting proposals from well reputed Insurance Companies licensed by the Securities and Exchange Commission of Pakistan (SECP). The tender is for providing group insurance coverage for employees of UET Lahore with 5 years post retirement coverage up to 65 years of age. The insurance coverage is required as per the Government of Punjab schedule indicating premium rates clearly. Items being procured: - Insurance coverage for employees with Basic Pay Scale 1 to 4: Rs. 150,000 - Basic Pay Scale 5 to 10: Rs. 175,000 - Basic Pay Scale 11 to 15: Rs. 300,000 - Basic Pay Scale 16: Rs. 450,000 - Basic Pay Scale 17: Rs. 600,000 - Basic Pay Scale 18: Rs. 875,000 - Basic Pay Scale 19: Rs. 1,050,000 - Basic Pay Scale 20 and above: Rs. 1,250,000 The technical scope requires insurance companies to have an AA Insurer Financial Strength (IFS) rating by any SECP-recognized credit rating agency. The coverage must be in accordance with the Punjab Government schedule for premium rates. The tender documents must be submitted online through the Punjab E-Procurement System website by 10:00 am on 5th August 2026, with proposals opened the same day at 10:30 am. Manual bids will not be accepted. A bid security of Rs. 50,500 (2% of the estimated premium amount) must be submitted electronically as per Punjab E-Procurement System regulations. Eligibility includes being a licensed insurance company by SECP with the required AA rating. Bidders must register on the Punjab E-Procurement System to participate. The procurement process follows Punjab Procurement Rules 2014 and Finance Department instructions. The submission deadline is strictly 5th August 2026 at 10:00 am online. The contact person is Abid Shahzad Aslam, Treasurer, University of Engineering and Technology Lahore, reachable at phone 042-99029233. The official website for more information is www.uet.edu.pk. A practical tip for bidders: Ensure your company’s SECP license and AA rating documentation are up to date and uploaded correctly on the Punjab E-Procurement System to avoid disqualification. Also, submit the bid security electronically as manual submissions are not accepted.