Federal Government Employees Housing Foundation intends to invite best offer rates for placement of funds in line with Finance Division guidelines, 2003 “deposit of working balances and investment of surplus funds” for scheduled banks (branches located in Islamabad) for one month and three month TDR (Auto Roll over) for amount of Rs. one (01) Billion and above with following terms and conditions.
i) Interested local banks have minimum “A+” and above PACRA/JCR-VIS credit rating and foreign banks having requisite Moody’s Fitch’s and standard & poor ratings.
ii) All envelopes should be duly marked “QUOTATION BY BANK “and should reach the office of undersigned at 1100 hours on February 18, 2019 which will be opened at 1130 hours on same day in presence of the members of bank representatives and Finance committee of FGEHF.
iii) Disfiguring/ overwriting and fudging shall render the bid to rejection.
iv) The relevant TOR’s are also placed at FGE Housing Foundation and PPRA website. For further information/ queries please contact at the given number.
(Room No. 50, 01st floor)
Federal Government Employees Housing Foundation
Ministry of Housing & Works
Government of Pakistan
Address: Plot No. 10, Mauve Area, Sector G-10/4 Islamabad. Tel: 051-9106083
POLICY For placement of funds with bank
o Advertisement may be published once in a fiscal year for selection of banks.
o At least four (04) banks may be selected for placement of funds.
o Total funds may be placed into two parts, 50% may be placed for one month and 50% for three month basis.
o Priority will be given to AAA & AA rated banks.
o Not more than one (01) billion may be placed in A+ rated banks.