Tcp: Lahore High Court issues notice

Petitioner argues TCP purchased sugar at Rs65 per kg compared to market rates of Rs53 per kg, causing Rs2.5b loss.


Express December 08, 2011

LAHORE:


Lahore High Court (LHC) Chief Justice Sheikh Azmat Saeed on Thursday issued a notice, asking the federal government and the Trading Corporation of Pakistan (TCP) to appear on December 22 in connection with a plea filed against purchase of sugar at high prices for the Utility Stores Corporation (USC).


Petitioner Ahmed Imran Ghazi said the government, following a Cabinet Division decision, was purchasing sugar at Rs65 per kg through a TCP tender compared to the open market rate at Rs53.

He expressed fear that the national exchequer would suffer a loss of Rs2.5 billion because of this.

He prayed to the court to pass a restraining order against the executive committee of the Cabinet Division, which had given green signal to TCP and USC for sugar purchase at Rs65 per kg.

Published in The Express Tribune, December 9th, 2011.

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