Hiring of Insurance Company for Group Health Family Takaful (GHFT) by Karachi Tools, Dies & Moulds Centre

Karachi Tools, Dies & Moulds Centre (KTDMC) invites electronic bids from eligible and registered insurance companies for the hiring of an Insurance Company to provide Group Health Family Takaful (GHFT) services for the financial years 2026-27 and 2027-28. The contract period covers November 12, 2026 to June 30, 2028, commencing after signing the contract. Items being procured: - Group Health Family Takaful (GHFT) Plan A and Plan B covering hospitalization and maternity benefits - Hospital Care Limit per person per year: Rs. 650,000 (Plan A), Rs. 520,000 (Plan B) - Room & Board entitlement per day inclusive of nursing and ancillaries: Rs. 10,400 (Plan A), Rs. 9,100 (Plan B) - 50% enhancement on total coverage in case of accidental cases - Coverage includes pre and post hospitalization diagnostic charges, physician and specialist consultation, ICU charges, surgical operation charges, day-care surgery, accident & emergency services, specialized investigations - Maternity benefits including normal and complicated delivery limits per married female per year - Total insured lives: 404 including employees, spouses, and children The scope requires provision of comprehensive family takaful insurance services with timely claim reimbursements within 10-15 days. Bidders must be authorized takaful operators with valid Shariah compliance certificates, financial strength rating of AA+ or better, minimum equity of PKR 1 billion, and at least 5 years of relevant experience. Bidders must be registered with Income Tax and Sales Tax departments and on the Active Taxpayers List of FBR. Bids must be submitted electronically via EPADS by 23rd September 2026 at 10:30 am, with original bid security of 2% in the form of bank draft/pay order in favor of Karachi Tools, Dies & Moulds Centre delivered before the deadline. Bids will be opened publicly on the same day at 11:00 am at KTDMC office, Karachi. The contract requires a performance security of 10% valid for 21 months, payable via pay order or bank guarantee. Prices quoted must be inclusive of all taxes and fixed for the contract duration. A practical tip for bidders: Ensure timely submission of original bid security to avoid disqualification, and carefully review all qualification criteria including Shariah compliance and financial strength documentation to meet eligibility requirements. This procurement offers a valuable opportunity for insurance companies to partner with a reputable Karachi-based institution to provide essential health takaful services to a large employee group.