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The Privatisation Commission (“PC”) has extended the date for inviting
Expression of Interest (EOI) on the request of the interested parties for the
sale of land & buildings owned by Republic Motors (Pvt.) Ltd and others
located at 87-Shahrah-e-Quaid-e-Azam and back portion facing Lawrence Road,
Lahore through a competitive bidding process on “as is where is” basis. Those
who have applied in response to earlier invitation need not to apply afresh.
The land & buildings will be sold in two portions, portion (A) facing Mall
Road and portion (B) facing Lawrence Road with larger frontage. Details of the
land of portion (A) & (B) are as under:
PORTION “A”: MALL ROAD PORTION “B”: LAWRENCE ROAD
Khasra Nos. K–M- Sft Khasra Nos. K–M- Sft
1. Khasra No.2110 00-05-187 1. Khasra No.2123 00-03-083
2. Khasra No.2111 01-07-129 2. Khasra No.2124 19-11-090
3. Khasra No.2112 00-10-220 3. Khasra No.2125 02-10-041
4. Khasra No.2114 15-03-216
5. Khasra No.2115 02-14-223
TOTAL 20-03-075 TOTAL 22-04-214
Note: The actual measurement of land can be slightly different.
Investors interested in joining the process have been asked to submit
Expression of Interest (‘EOI’) alongwith non-refundable processing fee of Rs.
100,000 (Rupees one hundred thousand only) for each Portion (A) & (B)
mentioned above, in the form of Bank Draft / Pay Order latest by 15:00 hours
on June 25, 2007, which should include information i.e. Name of person for
individual investor; Composition of consortium of persons; Name of company,
firm or society and its background information; Copy of Computerized National
Identity Card (CNIC) for individual person and consortium of persons and names
of Directors / Partners for companies, firms or societies; National Tax
Number; Name, Address, Telephone, Mobile, Fax, Email of the Focal Person to be
contacted.
Interested parties submitting EOIs will be provided documentary details of
land, property and tenants occupying the building, an opportunity to visit the
site on any working day on prior appointment with the Privatisation Commission
and details of pending litigation.
The other conditions include all matters including details of the property and
tenants occupying the buildings shall be provided to the interested parties
who file EOIs. Privatisation Commission (PC) reserves the right to sell the
two portions separately or together. Earnest Money of R s. 100,000,000/-
(Rupees one hundred million) for each portion shall be deposited in the form
of bank draft / pay order in favour of Privatisation Commission three days
before the bid date. Earnest Money will be refunded to unsuccessful bidders
within seven (7) calendar days from the date of bidding. Successful bidder
will have to deposit 25% of the accepted bid amount within fifteen (15)
calendar days of issuance of Letter of Acceptance. Successful bidder will have
to deposit balance 75% of the accepted bid price less Earnest Money within
forty five (45) calendar days of Letter of Acceptance. In case of default in
deposit of 25% of the accepted bid amount after issuance of LOA, Earnest Money
shall stand forfeited in favour of Privatisation Commission (PC). The buyer
will pay all the fees, taxes and levies regarding transfer of land.
Privatisation Commission reserves the right to accept any bid or reject all or
any of the bids at any stage without assigning any reason therefor. The final
bid date shall be conveyed to all the parties submitting EOI within one month
from the closing date of filing of EOI.