APPOINTMENT OF AUDITOR
For Punjab Pension Fund
Government of the Punjab through
Punjab Pension Fund Act 2007 has established Punjab Pension Fund (PPF). The
Fund is responsible for secure and profitable investment of pension funds in
capital markets.
Government of the Punjab intends
to hire the services of a reputable and experienced registered Chartered
Accountancy Firm having a satisfactory QCR rating with ICAP & rated
"A" on the SBP list of auditors to conduct its Statutory Audit for on
the year ending June 30, 2022, with the provision of extension for the next two
years upon satisfactory performance.
Firms for conduction statutory
audit of PPF shall be engaged via "Quality and Cost Based Selection
Method" under "Single Stage Two Envelopes Bidding Procedure" as
provided under the Punjab Procurement Rules, 2014. Professional Chartered
Accountant firms meeting above mentioned criteria are encouraged to apply in
accordance with terms and conditions outlined in RFP and PPRA Rules, 2014. The
Audit of the Fund is carried out under Punjab Pension Fund Rules 2007, and the
Schedule attached thereto requiring half yearly review and annual audit of
merged financial statements of Trust and the Expense Account of Punjab Pension
Fund. As an additional assignment, Auditors' work includes a Compliance Report
to the Management Committee on annual basis under the International Standard on
Assurance Engagement 3000 for compliance of the Punjab Pension Fund Act 2007,
Punjab Pension Rules 2007, Trust Deed, and the Investment Policy.
Bids/Proposals duly completed,
signed, stamped, sealed in conformity with the Bidding Documents along with necessary
documents must be submitted on or before October 27, 2023 till 02:00 PM at the
following address. The bids shall comprise a single packet/envelope containing
two separate sealed envelopes. Each envelope shall contain separately the
Technical Proposal and Financial Proposal as per PPRA Rules 2014. The
applications will be opened on the same day at 02:30 PM in the office of
Additional Finance Secretary (Budget), Finance Department in presence of
bidders or authorized representatives who wish to attend.
The bidders shall provide Bid
Security of 2% of the estimated cost Rs. 1,500,000/- in the form of a Demand
Draft/Pay Order in favor of Punjab Pension Fund-Expense Account. Bid Security
shall be a part of the Technical Proposal.
Bids that are incomplete, not
sealed, not signed, and not stamped, submitted after the stipulated date &
time, or not in accordance with the specified mode will not be considered.
The Punjab Pension Fund Act 2007,
Punjab Pension Rules 2007, Trust Deed, and the Investment Policy may be seen at
the official website of the fund. http://ppf.gop.pk/tenders
Section Officer (E&A)
Government of the Punjab
Finance Department Tel:
042-99212223
(LHR-G)
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