In terms of Rule 48 of Public Procurement Rules, 2004, the Grievance Redressal Committee (GRC) has been notified for the subject procurement. The notification is available on the Procuring Agency's website and on PPRA's website.
National Insurance Company Limited (National Insurance Company Limited)
Manager Procurement
3rd Floor, Right Wing, NICL Building, Main Korangi Road, Karachi
+92-333-397-7611
procurement@nicl.com.pk
The following specific data for the Framework Agreement shall complement, supplement, or amend the provisions in the Instructions to Applicants/Bidders (ITB). Whenever there is a conflict, the provisions herein shall prevail over those in ITB.
FDS Clause Number
ITB Number
Amendments of, and Supplements to, Clauses in the Instructions to Applicants/Bidders
FDS Clause Number 1
ITB Number 1.1
Identification Number of the Framework Agreement: FFW9571
The Procuring Agency is: National Insurance Company Limited (National Insurance Company Limited)
Framework Agreement Title: Prequalification of Securities Brokers (NICL/Proc/Framework/2026/1)
FDS Clause Number 2
ITB Number 2.1
The name of Procuring Agency is: National Insurance Company Limited (National Insurance Company Limited)
The name of Framework Agreement is: Prequalification of Securities Brokers (NICL/Proc/Framework/2026/1)
FDS Clause Number 3
ITB Number 2.2
Participating / Authorized Procuring Agencies under this Framework Agreement:
FDS Clause Number 4
ITB Number 3.1
Framework Type: Open Framework Agreement
FDS Clause Number 5
ITB Number 4.1
Framework Duration: 36 Months
Commencement Date: Monday, October 12, 2026
Expiry Date: Expired after the framework duration of 36 months from the award date.
FDS Clause Number 6
ITB Number 5.1
A list of debarred firms and individuals is available on PPRA website: https://ppra.gov.pk
FDS Clause Number 7
ITB Number 7.1
For clarification, the Applicant shall seek clarifications through: EPADS v2.0
FDS Clause Number 8
ITB Number 7.1 & 8.2
Information related to the Framework Agreement shall be published on: EPADS v2.0
FDS Clause Number 9
ITB Number 7.2
Pre-Bid Meeting: Clarification Date: Thursday, September 24, 2026
FDS Clause Number 10
ITB Number 10.1
This Framework Agreement Document has been issued in the language: English
FDS Clause Number 11
ITB Number 11.1(d)
Additional documents to be submitted through EPADS v2.0:
FDS Clause Number 12
ITB Number 14.2
Source for determining exchange rates: Not Applicable
FDS Clause Number 18
ITB Number 16.1
Deadline for Bid Submission:
Day: Monday
Date: Monday, September 28, 2026
Time: 11:30 AM
FDS Clause Number 19
ITB Number 17.1
Opening of Bids shall be conducted through: EPADS v2.0
Day: Monday
Date: Monday, September 28, 2026
Time: 12:00 PM
Virtual participation link: https://vendors.epads.gov.pk/
FDS Clause Number 20
ITB Number 21.1
Margin of Domestic Preference: Not Applicable
FDS Clause Number 21
ITB Number 22.1
Framework Award Basis: Least Cost Based Selection (LCBS)
FDS Clause Number 22
ITB Number 23.1
Suppliers admitted to the Framework Agreement shall not be guaranteed any minimum quantity, value, or volume of business unless otherwise stated in the Framework Agreement.
FDS Clause Number 23
ITB Number 29.1
Framework-related complaints / grievances shall be submitted in writing through: EPADS v2.0
A complaint may challenge:
Positions Without Lots :
| Position | Delivery Schedule | Quantity |
|---|---|---|
| Prequalification of Securities Broker Firms | Address: 3rd Floor, Right Wing, NICL Building, Main Korangi Road, Karachi Schedule: 7 Quantity: 1/Qty |
1/Qty |
| Bidder's Type | Required Registration |
|---|---|
|
Company (Private Limited) Company (Public Limited) |
NADRA CITIZENSHIP (CNIC/NICOP) FBR (NTN) SECP |
| Eligibility Criteria | Document |
|---|---|
| 1. Applicants must not be on Active Blacklisted Firms on PPRA website at the time of evaluation of application by NICL. | No |
| 2. Applicants must be an Active Taxpayer for Income Tax and Services Tax as per website of FBR and respective provincial tax authority at the time of evaluation of application by NICL. (Attach FBR NTN certificate and provincial tax authority such as SRB or PRA certificate) | Yes |
| 3.Applicants must have an office in Karachi or Lahore or Islamabad/Rawalpindi. (Attach scanned copy of valid property ownership documents/valid tenancy agreement with copy of last paid utility bill paid by the firm with name of firm or its team member) | Yes |
| 4. Applicants must be a limited company and a registered trading and clearing broker as per SECP rules. (Attach scanned copy of valid certificate issued by SECP) | Yes |
| 5. Applicants must have experience of at least 5 years in brokerage services in Pakistan. (Attach scanned copy of letter of incorporation/SECP registration certificate/FBR NTN registration certificate with date) | Yes |
| 6. The applicant must hold a valid Trading Right Entitlement Certificate (TREC) in accordance with the rules and regulations of the Pakistan Stock Exchange (PSX). (Attach scanned copy of Trading Right Entitlement Certificate) | Yes |
| 7. The applicant must maintain a long-term credit rating of at least “A”, a Broker Management Rating (BMR) of at least “BMR-1”, and a Broker Fiduciary Rating (BFR) of at least “BFR-1”. (Attach scanned copy of a rating report not more than 18 months old) | Yes |
| 8. The applicant must have an independent research function/department responsible for publishing research reports on companies, sectors, market indices, and the stock market. (Attach report or website link to at least one publication in the last 5 years) | Yes |
| 9. Applicants must have total income (profit after tax) of at least PKR 300 million (Attach Audited Financial Statements of last 5 years) | Yes |
| 10.Applicants must have total equity of at least PKR 200 million (Attach Audited Financial Statements of last 5 years) | Yes |
| 11. Applicants must maintain a Net Capital Balance (NCB) of at least PKR 200 million (Attach Audited Financial Statements of last 5 years) | Yes |
Least Cost Based Selection (LCBS)
Scope of Work
The selected/prequalified Securities Brokers shall provide securities brokerage and related non-consulting services to NICL Treasury/Investment Department, including but not limited to:
Related Services or Materials:
Allocation of Assignments / Call-Off Orders
Since the brokerage commission shall be uniform at 0.15% for all empaneled brokers, assignments shall not be allocated based on price.