The Trading Corporation of Pakistan (TCP) received some 32 bids for purchase of carryover sugar stocks from local mills. Following the directives of federal government, the TCP floated a gallop tender on November 3, 2011, for purchase of upto 200,000 MT sugar from local mills. As per the terms and conditions, bidders were required to quote bids for a minimum quantity of 5,000 MT and maximum 20,000 MT in each case, to ensure big participation.
The tender was opened on Saturday and as many as 32 parties expressed interest in selling sugar to the TCP. The bids received are valid up to November 22, 2011. In all 32 mills offered bids for varying quantities at rates ranging from Rs 65,000 to Rs 66,000 PMT. However, no bid was accepted as the evaluation was under way, after which, the committee on sugar constituted by the Economic Co-ordination Committee of the Cabinet would review the quoted prices and take a final decision.
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