The Bank of Punjab’s Board of Directors is likely to award a vital contract of procuring core banking system to a foreign IT firm at higher rates in coming days, ignoring the lowest bidders allegedly in violation of the prescribed rules and regulations.
Since the core objective was to ‘facilitate’ a certain company, the bank sought tenders amid request for proposals (RFPs) from the interested parties for four times – in 2009, 2011, last year and finally in March, this year.
The situation even forced a local company, which claims to be a winner of the contract being a lowest bidder after evaluation in 2009 and 2011, to write to National Accountability Bureau (NAB) for a thorough probe.
On the other hand, the BoP management dispels the impression, terming the entire bidding process transparent. “The process adopted to award the contract was based on merit, allowing local and foreign IT firms to come and participate in it subject to their eligibility, competence and adequate professionalism,” said BoP’s President Naeemuddin Khan.
