REQUEST FOR PROPOSALS
INDEPENDENT PRICING AUDITOR
PF/RFP/2025/2026-01
The Petroleum Fund is a statutory organisation under the Ministry of Finance, which was established through the Legal Notice No. 96 of 1997 under the Finance Order of 1988. The purpose of the Fund is to collect revenue that is utilised for ensuring that there is a security of supply of the Petroleum Products in the country. Under the Fuel and Services Control (Delegation Notice) Number 32 of 2021, the Fund has been delegated the powers to prescribe the price and time at which Petroleum Products may be sold. In this regard, the Fund sets the Retail Prices of all grades of petrol and diesel as well as that of illuminating paraffin using a mechanism known as the Basic Fuel Price (BFP).
The Fund and Oil Industry Consultant (Petroleum Products Price Administration services (PPPAS) align with the Working Rules to determine the BFP for each month. The monthly calculation of the BFP determines the average unit over/under-recovery for fuels, which will be used for fuel price adjustments. The Fund is also responsible for issuing a Fuel Price Media Statement regarding the fuel Price Adjustments for the first Wednesday of each month Petroleum Fund, therefore, seeks to engage a reputable and experienced company to perform the functions of a Fuel Price Auditor.
Interested, eligible bidders may obtain the Terms of Reference upon payment of a non-refundable fee of M1000.00 into the Fund’s bank account:
Bank Name: – Nedbank
Account Holder: – Petroleum Fund
Account No: 021000028317
Branch: Kingsway
Bidders should present the confirmation/proof of payment to the Fund offices for the purchase of Bidding Documents. The payment reference must indicate the title of the Consultancy the bidder is interested in. The documents will be available at Petroleum Fund offices from Thursday, April 24th, from 08:00 to 16:30.
Requests for clarification should be made in writing on or before 14:00hrs on Monday the 12th of May 2025, to the following e-mail address: supplier@petroleum.org.ls. The Proposals must be submitted in sealed packages clearly marked ‘PF/RFP/2025/2026-01 INDEPENDENT PRICING AUDITOR’, containing Technical Proposals and separately sealed Financial Proposals. The deadline for submission of proposals is Thursday, the 22nd of May 2025 by 12:00hrs, to be followed by a public opening of Technical Proposals at 12:15hrs on the same day.
Petroleum Fund LCCI Building
Orpen Road, Old Europa
Maseru 100
Tel. (+266) 22312137
Online submissions may be made by sending encrypted Technical and Financial proposals to supplier@petroleum.org.ls by the set deadline.
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