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The Privatisation Commission (“PC”) has invited the interested parties for
Expression of Interest (EOI) 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. The land & buildings wil 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 Khasra No.2123 00-03-083
2. Khasra No.2111 01-07-129 Khasra No.2124 19-11-090
3. Khasra No.2112 00-10-220 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 02, 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 Rs. 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.