TCP awards 310,000 MT sugar purchase contracts

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KARACHI: Trading Corpor-ation of Pakistan (TCP) has awarded purchase contracts for a further quantity of 310,000 metric tonnes (MT) sugar to 69 local sugar mills on the lowest bid price of Rs 52,800 per MT. According to TCP on Thursday, the tender for purchase of 330,000 MT sugar was floated on December 14, 2012 in pursuance of the Economic Coordination Committee (ECC) decision. In response 71 responsive bids were received for a total quantity of 650,000 MT. Kamaliya Sugar Mills and Huda Sugar Mills offered the lowest rates of Rs 52,800 per PMT for a quantity of 10,000 MT each, which were accepted and the award letters were issued to both mills accordingly.

To complete the procurement of total targeted quantity of 330,000 MT rest of the 69 responsive bidders were offered the option of price matching, who all consented to match with the lowest price of Rs 52,800 PMT for a total quantity of 630,000 MT as against the balance required quantity of 310,000 MT. Hence the purchase contracts were awarded, on pro-rata basis to all the 69 sugar mills on the lowest price of Rs 52,800 MT.

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