TCP receives 71 bids for sugar purchase

Attention: open in a new window. PDFPrintE-mail

KARACHI: The Trading Corporation of Pakistan (TCP) in response to its tender regarding purchase of 330,000 metric tons sugar, opened on January 14, has awarded the purchase contract for a quantity of 20,000MT to the two lowest bidders, Kamaliya Sugar Mills and Huda Sugar Mills (10,000 metric tons each) at a price of Rs52,800 per metric ton, according to a statement.

In all, 71 responsive bids received for a total quantity of 660,000MT. The rates quoted by the bidders for varying quantities ranged from Rs52,800 per metric ton to Rs59,250 per metric ton.

Kamaliya Sugar Mills and Huda Sugar Mills quoted the lowest responsive price of Rs52,800 per metric ton each for a quantity of 10,000 metric ton, it said.

Being the lowest and conforming to all tender terms and conditions, the offers were accepted and the mills were awarded the contract, accordingly, according to the statement. However, to complete the purchase of total targeted quantity of sugar, rest of the bidders, who quoted higher rates in the tender have been asked for matching the lowest bid price by Wednesday forenoon (January 16).

Courtesy: The News

Forex open Market rates & comments Archive

Login Form