Hiring of Consultancy Services for Development of Accounting Manual by State Life Insurance Corporation of Pakistan

The State Life Insurance Corporation of Pakistan (SLIC) invites bids for the hiring of consultancy services for the development of a comprehensive Accounting Manual and Accounting Policies. This procurement is planned for the financial year 2026-27 and will be conducted through the e-Pak Acquisition and Disposal System (EPADS) v2.0 platform. The project is based in Karachi, Sindh, and the procuring agency is the State Life Insurance Corporation of Pakistan (SLIC). Items being procured: - Hiring of consultancy services for development of Accounting Manual and Accounting Policies The scope of work includes a detailed diagnostic review of existing policies and procedures, assessment of the finance function, identification of gaps and control weaknesses, and preparation of a diagnostic report. The consultant will develop a draft Accounting Manual covering core financial processes such as fixed assets accounting, investment accounting, financial reporting, bank account management, budgeting, cash management, collections, payments, premium collection, and mapping of GL codes. Business-specific accounting areas include real estate, bancassurance, takaful, and voluntary pension schemes. The consultant will also develop governance and compliance frameworks, taxation frameworks, and standardized templates and reporting formats. The consultancy will conduct stakeholder consultations, incorporate feedback, finalize the manual and policies, and provide implementation support including training sessions and knowledge transfer. A special phase includes incorporation of IFRS 17 and IFRS 9 related codes after one year from the submission of the first annual IFRS 17 financial statements. Eligibility criteria require bidders to be registered with FBR and SECP as applicable, with proven experience in internal controls, accounting advisory services, and development of accounting manuals. The selection will be based on Quality Based Selection (QBS) with 80% weightage on technical evaluation and 20% on financial evaluation. Bids must be submitted online through EPADS v2.0 by Monday, September 7, 2026, at 11:00 AM. Manual submissions will not be entertained. Bid security in the form of a Pay Order is required. The pre-bid meeting is scheduled for Friday, August 28, 2026, at 10:00 AM at the Central Procurement Division, State Life Building No 09, Dr Ziauddin Ahmed Road, Karachi. Bidders are advised to carefully review the bidding documents, comply with all requirements, and ensure timely submission. Registration on EPADS v2.0 is mandatory for participation. The procuring agency reserves the right to reject all bids and annul the procurement process without liability. A practical tip for bidders: Ensure your firm's profile, experience, and financial standing are well documented and meet the minimum qualification criteria to maximize your technical score. Early registration and familiarization with the EPADS platform will facilitate smooth bid submission.