CONFIDENTIAL

CONTROLLED COPY 1 OF 2

ISLAMABAD STOCK EXCHANGE (GUARANTEE) LIMITED

ISLAMABAD
CONSTRUCTION OF ISLAMABAD STOCK EXCHANGE TOWERS
ON JINNAH AVENUE BLUE AREA, ISLAMABAD
(CIVIL & PLUMBING WORKS)

TENDER EVALUATION REPORT

1.

INTRODUCTION
1.1

Islamabad Stock Exchange (Guarantee) Limited (ISE) pre-qualified

following Construction Firms for Construction of ISE Tower on Jinnah
Avenue, Blue Area, Islamabad (Civil & Plumbing Works). Notice Inviting
Tenders were issued by Islamabad Stock Exchange to these firms vide
letter No. ISE/BP/034 to 042 dated January 02, 2006.
(i)

M/s. Ashers Trading & Construction Company

(ii)

M/s. Associated Constructors Limited

(iii)

M/s. Builders Associates

(iv)

M/s. Guarantee Engineers

(v)

M/s. Habib Rafiq (Pvt.) Limited

(vi)

M/s Interhom (Pvt.) Limited

(vii)

M/s Joannou & Paraskevaides (Overseas) Ltd.

(viii)

M/s Mughals Pakistan (Pvt.) Limited

(ix)

M/s STFA Construction Company

1.2 Tenders were collected by the following six firms from the office of NESPAK
Islamabad by the date stipulated in Notice Inviting Tenders.
i.

M/s. Ashers Trading & Construction Company

ii.

M/s. Associated Constructors Limited

iii.

M/s. Guarantee Engineers

iv.

M/s. Habib Rafiq (Pvt.) Limited

v.

M/s Interhom (Pvt.) Limited

vi.

M/s Mughals Pakistan (Pvt.) Limited

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1.3

Pre-bid meeting for clarification regarding any queries from construction

firms was held in the office of NESPAK at 10.00 AM on January 23, 2006.
Meeting was attended by:
On Behalf of ISE
-

Mr. Aftab Ahmad Chaudhary

Mr. Yousaf H.Makhdoom

Managing Director
Secretary/CAO

On Behalf of NESPAK
-

Mr. Abdul Qadeer

Mr. Imtiaz Ahmed Arain

Mr. Imran Taj

Project Manager
Engineers Representative, ISE
Project
Principal Architect

The meeting was also attended by the representatives of the following

bidders. Attendance sheet bearing signature of representatives is attached
as Annexure A

1.4

i.

M/s. Ashers Trading & Construction Company

ii.

M/s. Guarantee Engineers

iii.

M/.s Habib Rafiq (Pvt.) Limited

iv.

M/s Mughals Pakistan (Pvt.) Limited

Sealed bids were received in the office of Islamabad Stock Exchange on

February 17, 2006 at 3.30 PM and were opened same day at 4.00 PM in
the presence of bidders representative.
Attendance sheet and tender opening statement bearing signatures of all
bidders representatives, Members of ISE Building Committee comprising
Mian Mohammad Akram, Member; Lt. Col (R) Ch. Iftikhar Ahmad,
Member; Mr. Iftikhar Ahmad, Member; Mr. Yousaf H.Makhdoom, Secretary
ISE; Mr. Saghir Mushtaq and representatives of NESPAK comprising Mr.
Abdul Qadeer, Project Manager, Mr. Imtiaz Ahmad Arain, Engineers
Representative, ISE Project; Syed Ali Fahim, Senior Engineer are
attached as Annexure B-1 and Annexure B-2.

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1.5

The positions and bid prices of participating bidders (As Annexed)

announced at the time of opening are given below:SR.
No.

2.

NAME OF FIRM

a.

M/s Habib Rafiq (Pvt.) Limited

b.
c.
d.

M/s Guarantee Engineer

M/s Mughals Pakistan (Pvt.) Limited
M/s Interhom (Pvt.) Limited

BID PRICE
(Rs.)

POSITION

865,669,100/Rebate of 3%
Net 839,699,027/871,745,030/875,953,595/887,785,244/-

1st Lowest
2nd Lowest
3rd Lowest
Highest

TENDER SECURITY
2.1

Amount
All bidders provided tender security amounting to Rs. 10.00 million in the
form of Bank Guarantee issued by Scheduled Bank of Pakistan in favor of
the Employer except M/s Mughals Pakistan (Pvt.) Limited who provided a
Bank Guarantee of 10.10 Million.

2.2

Validity
A validity of 90 days for tender security was required as per Instructions to
the Tenderers.
The status of validity of Tender Security of the participating firms is as
under:-

3.

i.

M/.s Habib Rafiq (Pvt.) Limited

79 days

ii.

M/s. Guarantee Engineers

89 days

iii.

M/s Mughals Pakistan (Pvt.) Limited

89 days

iv.

M/s Interhom (Pvt.) Limited

80 days

ADDENDUM TO THE TENDER

All contractors acknowledged receipt of Addendum No. 1 and Addendum No. 2

4.

ARITHMETICAL CHECK
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All bids were checked arithmetically. The bid prices after arithmetic
check/corrections are appended below. The position of bidders after the check
however remained unchanged.
SR.
No.

5.

NAME OF FIRM

CORRECTED BID
PRICE
(Rs.)

a.

M/s Habib Rafiq (Pvt.) Limited

b.
c.
d.

M/s Guarantee Engineers

M/s Mughals Pakistan (Pvt.) Ltd.
M/s Interhom (Pvt.) Limited

865,621,850/Rebate of 3%
Net 839,653,195/871,306,558/881,805,174/887,785,244/-

POSITION

1st Lowest
2nd Lowest
3rd Lowest
Highest

SCRUTINY OF TENDERS
5.1

Observations on the tender of M/s. Habib Rafiq (Pvt.) Ltd.

5.1.1 Covering Letter
M/s Habib Rafiq (Pvt.) Ltd. vide their letter No. HRL/RO/AMS-1892
dated February 17, 2006 (attached as Annexure C) have
submitted the following requests and assumptions for the
consideration of ISE.
a.

The amount of Retention Money may be reduced to 2%

instead of 5% for which M/s. Habib Rafiq (Pvt.) Ltd. will
provide an advance Insurance Guarantee.

b.

The Performance Guarantee in shape of Insurance Bond

may be 10% instead of 20%.

c.

15% Mobilization Advance may be allowed in one part.

d.

70% payment of Interim Payment certificates may be paid

within 7 (seven) days of submission and balance 30% may
be released within 28 days.

e.

The amount of Secured Advance on Materials brought at

Site may be paid @ 90% which should be applicable to all
non perishable items besides the items listed in the Tender
Document.

f.

The Labour component for purpose of Cost Adjustment may

be 30% instead of 25%.
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g.

In addition to Cement, Steel, POL, other materials such as

Porcelain Tiles, Granite, Marble, Gypsum board, major
Plumbing materials etc should also be included for purpose
of Cost Adjustment. The component of POL should be fixed
at 8%.

h.

The effect, if any, due to any subsequent Legislation /

Ordinance of Government of Pakistan shall be
compensated.

5.1.2 Volume-I
(Instructions to Tenderers, Tender and Appendices, Forms,
Conditions of Contract Part-I, Conditions of Contract Part-II,
(Conditions of Particular Application) Specifications-Special
Provisions).
i.

Conditions of Contract, Part-II A, Contents, Page-2 has not

been signed.

ii.

Details in Appendix-J to Tender, Page TJ-1 have not been

furnished.

5.1.3 Volume-III (Tender Drawings)

Not submitted.
5.2

Observations on the tender of M/s. Guarantee Engineers

5.2.1 Volume-I
(Instructions to Tenderers, Tender and Appendices, Forms,
Conditions of Contract Part-I, Conditions of Contract Part-II,
(Conditions of Particular Application) Specifications-Special
Provisions).
i.

Word Pudlo has been added as water proofing

agent in the nomenclature of Item No. CA-J-01 (i),
Page 2580 (ISE)-CIVIL BLDG-P-5.

ii.

Word Boticina has been added as marble tiles in

item no. CA-L-04, Page 2580 (ISE)-CIVIL BLDG-P-5 and
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Item No. CB-L-05, CB-L-08,

(ISE)-CIVIL BLDG-P-11.

CB-L-09,

Page

2580

iii.

Page 2580 (ISE)-CIVIL BLDG P-6 & Conditions of

Contract Part-I, General Conditions, Page 38 have not been
signed

iv.

Details required in Appendix-E to Tender, Appendix-F

to Tender, Appendix-G to Tender, Page TG-2, Appendix-I to
Tender have not been furnished.

5.2.2 Volume-II (Technical Specifications)

i.

All the pages have not been signed.

ii.

Page No.2100-5 & 4610-1 have not been signed & stamped.

5.2.3 Volume-III (Tender Drawings)

The drawings have not been signed.
5.2.4 Addendum No.1
Drawings provided vide Addendum No.1 have not been signed.
5.3

Observations on the tender of M/s. Mughals Pakistan (Pvt.) Limited

5.3.1 Cover Letter
M/s. Mughals Pakistan (Pvt.) Limited vide letter No. 786/095-L/06
dated February 16, 2006 (attached as Annexure D) have
requested that 20% Mobilization Advance and Retention Money @
5% to a limit of Rs. 20.00 Million may be allowed by ISE.
5.3.2 Volume-I
(Instructions to Tenderers, Tender and Appendices, Forms,
Conditions of Contract Part-I, Conditions of Contract Part-II,
(Conditions of Particular Application) Specifications-Special
Provisions).
i.

Page TB-1, Appendix-B to Tender, Page TD-4, Appendix-D

to Tender & Page 25 of Conditions of Contract, Part-I,
General Conditions have not been signed.

5.3.3 Volume-III (Tender Drawings)

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Not Provided
5.3.4 Addendum No.1
The drawings issued vide Addendum No. 1 have not been
furnished.
5.4

Observations on the tender of M/s. Interhom (Pvt.) Limited

5.4.1 Cover Letter
M/s Interhom (Pvt.) Limited vide letter No. QAI-746/7577 dated
February 16, 2006 (attached as Annexure E) has forwarded
certain clarifications & suggestions in Annexure X to their letter for
consideration of ISE. The same are as follows:i.

Performance Bond should be in the shape of Insurance

Bond from owner approved Insurance companies.

ii.

Interest free Mobilization Advance of 20% of the contract

price to be paid simultaneously with the signing of the
Contract Agreement and to be deducted at the same rate
from the monthly running bills.

iii.

80% of the monthly running bills be paid within 7 days from

the date of submission of the bill by M/s Interhom (Pvt.)
Limited to the Employer/Engineers and balance payment to
be made within 15 days from the date of submission of the
bill.

iv.

The amount of retention money may be fixed at the

maximum limit of 10 million against which M/s Interhom
(Pvt.) Limited shall provide an insurance bond from any of
owners approved insurance companies.

v.

M/s Interhom (Pvt.) Limited has assumed that the employer

shall provide sufficient space for the installation of site
offices, parking, stores, warehouse, field laboratory,
reinforcement cutting & bending yard, fabrication & repair
workshop, free of any charges in the close vicinity of site.

vi.

Islamabad Stock Exchange shall assist M/s Interhom (Pvt.)

Limited in obtaining the connection from the concerned
department at the site of work. M/s Interhom (Pvt.) Limited
has assumed to undertake construction works on 24 hours
basis, and any hurdle to undergo round the clock work
beyond contractors control shall be owners account.
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vii.

The maximum limit & %age per day of liquidated damages is

too high. This can however be discussed and mutually
agreed at the time of award of project.

viii.

M/s Interhom (Pvt.) Limited understands that compensation

for the services rendered by them in connection with
coordination made with other agencies engaged by the
Employer at the project shall be considered and reimbursed
to them.

5.4.2 Volume-I
i.

TD-1 (Appendix-D to Tender), T1-1 (Appendix-F to Tender),

TJ-1, TJ-2 (Appendix-J to Tender, TK-1 (Appendix-k to
Tender), TL-1 (Appendix-L to Tender), Page TS-2 Forms,
Page PS-1, CA-2, MG-1, B-1 not signed. Contents Page-III
& IV of General Conditions Part-1, Page 2,6,
7,10,12,13,15,16,18,19,21,22,23,25,27,28,29,30,32,33,34,35
of General Conditions Part-I, Index Page i,ii,iv,v,vi,vii,
Contents Page-1, CPA-II-A-1,2,4 to 8, 10 to 13, Index Pages
of Conditions of Contract Part-IIA not signed. Contents Page,
CPA-11-B-1 to 6, 8, 10 & 11 of Conditions of Contract Part 11
B not signed. Contents Page SP-2 to 4,6,8,11 to 14 of
Special Provisions and Engineers & Engineers Staff site
office not signed.

ii.

Information required in Appendix-G to Tender, Page TG-2,

Appendix-I to Tender, Page T1-1 and Appendix-J to Tender,
Page TJ-1 not furnished.

5.4.3 Volume-II ((Technical Specifications)

Some of the pages have not been signed.
5.4.4 Addendum
i.

Addendum No. 1 & 2 have not been signed.

ii.

The drawings issued vide Addendum No. 1 have not been

furnished.

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6.

EVALUATION
6.1

Technical Evaluation
6.1.1 M/s Habib Rafiq (Pvt.) Limited
i.

The time schedule for carrying out the work for basement
No. 3 in the Preliminary Time Schedule furnished against
Appendix-E to Tender has not been catered for.

ii.

The organizational chart of site staff as per requirements

specified in Addendum No.1, Appendix-K to Tender has not
been provided.

iii.

The concrete mix design to be performed at site laboratory

furnished in Appendix-F to Tender is not acceptable. The mix
design would be carried out from an independent laboratory
recommended by the Engineer/Consultant.

iv.

Certain methods of mixing of concrete provided in Method

Statement for concrete mix design Page 3 of 4 in
Appendix-F to Tender is not acceptable. For mixing of
concrete only batching plant should be used.

v.

The organizational chart mentioned at various stages in

Method Statement provided as Appendix-F to Tender is not
in line with Appendix-K to Tender provided in Addendum No.
1. The organizational chart as defined in Appendix-K to
Tender of Addendum No. 1 should be followed.

vi.

In Page 2 of 3 of Method Statement (concrete for columns &

beams), BS-4027 has been mentioned which corresponds to
Sulphate Resisting Cement. The same is not required for this
project. All methods of performing the works should be in
line with Specifications.

vii.

The sketch showing Camp & Housing Facilities of

Appendix-H to Tender is not understandable. To elaborate
the same a plan with reference to the actual site/plot should
be provided.

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6.1.2 M/s Interhom (Pvt.) Limited

i.

The form work detail to be used in the project in Appendix-F

to Tender have not been mentioned.

ii.

While responding to Appendix-G to Tender issued vide

Addendum No. 1, the following major equipment-related
items have not been mentioned:a.
Batching Plant
b. Concrete Pump
c. Steel Cutting & Bending Machine
d.
Air Compressors
e.
Transit Mixer
f.
Cabin Hoist
g.
Safety Netting

iii.

The following activities mentioned in the bar chart provided

against Appendix-E to Tender are not included in the
contract:
a.
b.
c.
d.

6.2

Aluminum works
Under ground water tank
Foundations/Raft
Plinth beams

Financial Evaluation
During financial evaluation, following has been observed.
i.

The requests and assumptions of M/s Habib Rafiq (Pvt.) Ltd.

mentioned in para 5.1.1 of this report are not in line with the
Conditions of Contract and thus not acceptable.

ii.

The unconditional rebate of 3% (three percent) offered by M/s

Habib Rafiq (Pvt.) Ltd. vide their letter No. HRL/RO/AMS dated
February 17, 2006 (attached as Annexure F) is acceptable.

iii.

The request of M/s Mughals Pakistan (Pvt.) Limited mentioned in

para 5.3.1 of this report is not in line with the Conditions of Contract
and thus not acceptable.

iv.

The request of M/s Interhom (Pvt.) Limited mentioned in para 5.4.1

of this report is not in line with the Conditions of Contract and thus
not acceptable.
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6.3

Comparison with Confidential Engineers Estimate

Following is the comparison of financial evaluated bid prices of all bidders
as compared to Confidential Engineers Estimate of Rs. 751,670,834/(Rupees seven hundred fifty one million six hundred seventy thousand
eight hundred thirty four only) submitted vide letter No.
2580/321/AQ/04/35 dated February 16, 2006.

SR.
NO.
a.
b.
c.
d.

NAME OF FIRM

M/s Habib Rafiq (Pvt.) Limited

M/s. Guarantee Engineers
M/s Mughals Pakistan (Pvt.) Limited
M/s. Interhom (Pvt.) Limited

BID PRICE
AFTER
EVALUATION
(RS.)
839,653,195/871,306,558/881,805,174/887,785,244/-

%AGE
ABOVE/BELOW
ENGINEERS
ESTIMATE
11.70 % above
15.92 % above
17.31 % above
18.11 % above

POSITION

1st lowest
2nd lowest
3rd lowest
Highest

RECOMMENDATIONS
The bid price of M/s Habib Rafiq (Pvt.) Limited is 11.70% (Eleven point seven
zero percent) above the Confidential Engineers Estimate.
It is recommended that M/s Habib Rafiq (Pvt.) Limited, being the lowest, may be
awarded the work at their rebated price of Rs. 839,653,195
(Rupees eight thirty nine million, six hundred fifty three thousand, one hundred
ninety five only) subject to the unconditional withdrawal of all requests &
assumptions submitted in their Tender Letter No. HRL/RO/AMS-1892 dated
February 17, 2006.
Further more, if Islamabad Stock Exchange decides to award the works to
M/s Habib Rafiq (Pvt.) Limited, the Contractor is to be advised to comply with the
observations of the Technical Evaluation as provided under Para 6.1.1,
sub-para i to vii above, as per the stipulated Conditions of Contract.

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