TCP to import 600,000 tons of sugar

RAWALPINDI: The Trading Corporation of Pakistan (TCP) has said it is expecting arrival of 300,000 tons of sugar by the end of August and another 300,000 tons of contracted quantity will reach in following months.

“Current stocks are sufficient for Ramazan,” the TCP said in a press release on Monday.

The TCP on the directives of the Economic Coordination Committee of the cabinet is importing 1.2 million tons of white sugar through international tenders.

The TCP plans to import 375,000 tons in August and September which will arrive in October and November.

“This is being planned in view of the declining international prices for sugar and sufficient stock availability with the TCP till that time, the release stated.

The TCP has so far has awarded contracts for 825,000 tons of sugar, which had started to arrive since the mid-April 2010.

So far over 200,000 tons of sugar is available with the TCP, which is sold through Utility Stores Corporation and Canteen Stores departments at subsidized prices of Rs 45 per kg.

Published in the Express Tribune, June 8^th, 2010.