TCP rice export tender attracts only four bidders

Trading Corporation of Pakistan (TCP) has received a poor response in the rice export tender because only four parties have submitted bids for partial quantity. Sources told Business Recorder on Monday that the state-run TCP, on the directives of the federal government, issued a tender in the first week of February inviting bids from companies/ partnership/ sole proprietors dealing in export of rice for the export of 10,000 metric tons Long Grain White Rice (PK-386) to Sri Lanka in containerized bagged cargo packed in 50-kg polypropylene (PP) woven bags.
The rice tender was opened on Monday at TCP head office to finalise the deal for export of rice but that witnessed a thin participation as only four rice suppliers participated in the tender and not a single bidder submitted bid for entire tender quantity. Interestingly, all bidders submitted bids for partial quantity instead of complete quantity of 10,000 tons, they informed.
Lowest bid was submitted by the M/s Chappal Traders, which offered to supply 2,500 tons of Long Grain White Rice at Rs 69,492 per metric ton, Insurance and Freight (CI&F) basis. M/s Matco was second lowest bidder as it offered Rs 78,450 per ton for supply of 2,500 metric tons.
M/s Garib Sons quoted a price of Rs 78,650 per metric tons for supply of 2,500 metric tons Long Grain White Rice. Fourth supplier M/s Owais Rice Mills offered Rs 90,000 per metric ton for a quantity of 5,000 tons. Bid evaluation committee has completed evaluation of the received bids and as per reports all bids are conforming to technical specifications and terms and conditions of the tender.
TCP management also conducted a pre-bid meeting of all interested parties for deliberation in the tender and six parties attended the pre-bid meeting last Thursday at the TCP head office. Sources said as 10,000 tons of rice is being exported to Sri Lanka on the directives of the federal government, TCP has decided to send the bid evaluation report to the prime minister secretariat for final approval. It may be mentioned here that the rice will be exported to Sri Lanka as donation from the government of Pakistan for the people of Sri Lanka.