Trading Corporation of Pakistan (TCP) on Monday received 31 offers for 60,200 bales of cotton against its tender for sale and export of 82,000 bales. A TCP official said that the corporation has given counter offers to the highest bidders for export as well as local sale.
He said that price evaluation committee headed by TCP chairman has given counter offer of 47.61 cents per pound to two highest bidders who quoted prices ranging between 42.05 cents to 46.56 cents per pound for the export.
Similarly, the committee gave counter offers for 3,000 bales of grade II at Karachi godown at Rs 2,425 per maund to two local bidders. For grade III plus cotton bales of Karachi godown, TCP gave a counter offer of Rs 2,400 per maund to 19 local bidders.
The committee asked three highest bidders to match the counter offer of Rs 2,350 per maund for grade III, 1-1/32" cotton.
"We have received prices ranging between Rs 2,225 to Rs 2,400 per maund for 60,200 bales of grade II cotton, grade III plus and grade III 1-1/32", TCP official said,
He said the validity of counter offer for local and export sale will expire on August 2, 2005.