Selling or Inheriting a Construction Firm: Changing Ownership on the PEC Licence

01When PEC treats it as an ownership change

• The sale of a firm
• Succession after the owner’s death
• Shareholder changes that PEC treats as an ownership change

02The right order

1. 01Map the PEC rules for your licence type
2. 02Prepare the sale deed or the succession papers
3. 03Where the firm is a company, complete the SECP change first
4. 04Change the bank mandate
5. 05File the PEC amendment and complete the new owner’s biometrics

03The papers

• The current PEC licence
• The sale deed or succession papers
• CNICs of the outgoing and incoming owners
• The NTN certificate
• The bank’s mandate change
• Biometric verification of the new owner

04How long it takes

Often several weeks to a few months, because SECP and the bank usually have to move before PEC will accept the amendment.

05Do not bid on the old name

Until the amendment is through, the licence still names the old owner. A procuring agency that checks the papers will see the mismatch, so plan the change around your tender calendar, not in the middle of it.