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ISLAMABAD: The Trading Corporation of Pakistan (TCP) receivables against various departments/organisations stand at Rs253.8 billion on account of principle as well as markup.

Sources, on condition of anonymity, said the reconciliation process of the pending amount would start from next week for expected clearance of dues.

They added that the break-up of the TCP’s receivables is Rs128.029 billion in principal amount and Rs125.807 billion markup.

TCP directed to immediately start purchasing cotton

They added that these dues have been pending against Pakistan Agricultural Storage & Services Corporation Ltd (PASSCO), Utility Stores Corporation (USC), National Fertilizer Marketing Limited (NFML), Sindh Food Department, Punjab Food Department, KPK Food Department, Balochistan Food Department as well as government of GB and AJK and others.

PASSCO owes Rs29.304 billion to the TCP including Rs26.574 billion principal amount and Rs2.730 billion markup. The USC owes Rs81.277 billion to the TCP with Rs28.364 billion principals and Rs52.912 markup.

The NFML owes to the TCP Rs98.632 billion –Rs59.975 billion principal amount and markup of Rs38.656 billion.

The TCP’s receivables against Sindh Food Department are Rs8.396 billion which includes Rs2.331 billion principal amount and Rs6.064 billion markup while TCP receivables against Punjab Food Department stand at Rs12.467 billion with Rs4.687 billion principal amount and Rs7.780 billion markup amount, against KP Food Department stand at Rs9.371 billion with Rs2.527 billion principal amount and Rs6.844 billion mark-up amount.

The TCP receivable against Balochistan Food Department stood at Rs6.726 billion with Rs1.793 billion principal amount and Rs4.932 billion markup amount while the government of Gilgit-Baltistan owes Rs4.759 billion to the TCP with Rs1.284 billion principal amount and Rs3.475 mark-up amount.

The government of AJK Rs1.570 billion to the TCP with Rs231.42 million principal amount and Rs1.338 billion markup, the DGP Army owes Rs1.206 billion to the TCP with Rs255.43 million principal amount and Rs950.965 million mark-up amount, whereas, Navy owes Rs164.1 million to the TCP with Rs43.068 million principal amount and Rs121.038 markup.

Copyright Business Recorder, 2023

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