The Trading Corporation of Pakistan (TCP) has received 76 bids from local and foreign buyers for the purchase of l29,900 bales of cotton. According to the TCP here on Saturday, four parties submitted offers for 20,000 for exports and 72 for 109,900 bales against the total offer of 52,000 bales under the tender floated on May 23. The TCP price evaluation committee has accepted the highest bid for 1000 cotton bales from Bahawalpur godown at the rate of Rs 2,330 per maund from a textile mill of Sheikhupura and has asked seven mills to match the highest bid for 11,000 bales.
The committee also made a counter offer to 27 bidders at a rate of Rs 2,300 per maund for 34,900 bales from Karachi godown and 9 500 bales from Rohri godown.
For DG Khan godown, the TCP made a counter offer to 11 bidders for 20,000 bales at a rate of Rs 2,280 per maund.
For export, the TCP made the counter offer of 45.50 cent per pound FOB to the highest bidders against the offer ranging between 41 to 44.10 cents per pound FOB.
The validity of the offer for local sale has been fixed at May 30 and for exports at May 3l, 2005.
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