Question: Can a local company bid in foreign currency under international tenders in Pakistan?
Answer: Yes, a local company in Pakistan is permitted to bid in foreign currency under international tenders. This is stipulated under Rule 30(2) of the Public Procurement Rules, 2004 (PP Rules, 2004). According to this rule, for the purpose of comparing bids quoted in different currencies, the prices shall be converted into a single currency as specified in the bidding documents. The applicable rate of exchange shall be the selling rate prevailing on the date of the bid opening, as notified by the State Bank of Pakistan. This provision facilitates a fair comparison of bids, ensuring that all offers are evaluated on an equal footing regardless of the currency in which they are submitted
