Client Query 173:- Hi, wanted to ask that can a local company bid in foreign currency under international tender?
Rafay Zaman, USA
Answer:-Thank you for writing to us. As per your query, local company can bid in foreign currency in international tenders according to Rule 30(2) of PP Rules, 2004 which states that for the purposes of comparison of bids quoted in different currencies, the price shall be converted into a single currency specified in the bidding documents. The rate of exchange shall be the selling rate, prevailing on the date of opening of bids specified in the bidding documents, as notified by the State Bank of Pakistan on that day.
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