Punjab Institute of Cardiology Lahore Auction of Unserviceable Equipment and Scrap

The Punjab Institute of Cardiology, Lahore, will auction unserviceable items, including biomedical equipment, machinery, iron and other materials, on an as-is, where-is basis. The auction will take place at 11:00 a.m. on November 21, 2026.

Interested bidders must deposit a refundable security of Rs. 100,000 in the name of the Punjab Institute of Cardiology at the venue and pay a non-refundable participation fee of Rs. 1,000. They may inspect the items one day before the auction and participate by depositing the security before 11:00 a.m. on the applicable auction date.

The successful bidder must immediately deposit 25% of the bid amount. Failure to do so will result in the second-ranked bidder being declared successful and the first-ranked bidder's security being forfeited to the government. If the second-ranked bidder also fails to deposit 25%, their security will likewise be forfeited and the third-ranked bidder will be declared successful. Failure by the third-ranked bidder to deposit 25% will also result in forfeiture of their security.

The successful bidder must pay the remaining 75% within two days and collect the auctioned items. The contractor will be responsible for any damage caused within the hospital and must compensate for that damage. All applicable government taxes must be paid separately from the security deposit.

Security deposits will be returned to unsuccessful bidders after the auction. The Medical Superintendent reserves the right to cancel the auction at any time and for any reason, and this decision cannot be challenged.

Issued by the Medical Superintendent, Punjab Institute of Cardiology, Lahore. Reference: IPL-11954.