The Trading Corporation of Pakistan (TCP) on Saturday bought 50,000 tons refined sugar at $470 per ton C&F Karachi, a company official said. Official sources said the corporation bought the sugar from Dubai-based Al-Khaleej Sugar Company. TCP had issued the import tender on May 27.
They said the company had originally bid the price at $474.5 a ton, but cut it by $4.50 a ton after negotiations. The supplier is expected to deliver the shipments within four weeks of the opening of letter of credit. Earlier in the day, the TCP issued another tender to import a similar quantity of refined sugar, with shipment due in July, and bids to be submitted by 11.30 am (0630 GMT) on June 10.
Only 21 pre-qualified foreign firms would be allowed to participate in the tender. The TCP has so far bought 765,000 tons refined sugar from world-wide sources through 10 previous tenders. Meanwhile, the TCP has decided to import pulses in the country. The TCP has invited tenders for import of pulses including 10,000 tonnes mash and 1,25,000 tonnes gram.
The tenders will be opened on June 13. The government will sell imported pulses through utility stores, private television news channel reported.