Bank of Punjab — Open Auction of Bank-Owned Properties in Sialkot & Faisalabad

The Bank of Punjab invites interested parties to purchase the following bank-owned properties on an "AS IS WHERE IS" basis through open auction. Earnest money, identification and attendance requirements, bidding schedule and key terms are listed below.

Issuer: The Bank of Punjab (NBA Committee, Head Office, Lahore)

How to bid / Earnest Money: Interested parties must submit a Bank Draft/Pay Order/CDR/Banker’s Cheque of Rs. 500,000/- in favour of The Bank of Punjab along with a copy of CNIC and a contact number. Payment instrument must indicate payee as The Bank of Punjab and the property Sr. No. & address. Documents must be submitted at the place of auction before the scheduled time on the auction date.

Payment & post-auction terms (summary): Bidding will start at the scheduled time. Successful bidders will be informed provisionally on site. The successful bidder is liable for all applicable federal and provincial taxes and transfer expenses. Advance tax under Section 236A of ITO 2001 is applicable (0% for filers; 10% for non-filers). Bank will return instruments to unsuccessful bidders on the same day. On issuance of the final acceptance letter, 25% of the bid price must be paid within 7 days; the balance is payable within 30 days. Failure to comply will result in cancellation and forfeiture of payments. The Bank reserves the right to accept or reject any or all bids without assigning reason. Other terms and conditions, if any, will be announced before the auction begins.

Contact / Office: NBA Committee, The Bank of Punjab, Head Office, 6th Floor, I & BOP Tower, 10-B, Block E-II, Main Boulevard, Gulberg-III, Lahore. Phone: (042) 35783899, 35783700-10 (Ext. 9629 & 9634).