TCP clarifies bids for sugar import accepted under PPRA Rules

The Trading Corporation of Pakistan (TCP) clarified on Sunday that the three bids accepted for the import of sugar were accepted following "the requirements contained in PPRA Rules, 2004".

Earlier, it was reported in error that the TCP raised objections to documents submitted by two companies and consequently rejected their bids, despite them offering lower prices in their tenders for importing 200,000 metric tons of sugar.

“The lowest bidder’s (M/S ED&F Man Sugar Limited, London) offer was to supply/import of 50,000 MT, and not 100,000 MT as incorrectly reported in the news item, and the same has been accepted at quoted price of USD 539/MT. Accordingly, bid acceptance letter has been issued which has also been accepted by the firm,” TCP said in a statement.

It clarified that only one bidder (M/S Bare Syndicate FZCO) was rejected for failing to provide the mandatory bid security document, rendering its bid non-responsive. “Thus, all three bids were accepted following the requirements contained in PPRA Rules, 2004.

Accordingly, bid acceptance letters have been issued to all three bidders for import/supply of 105,000 MT of sugar,” the statement added.