Tender: TCP buys sugar at Rs45,720 per ton

TCP has awarded contracts to two sugar mills for 10,000 tons at a price of Rs45,720 per ton.

KARACHI: The Trading Corporation of Pakistan (TCP), in response to a tender for purchase of sugar floated on January 23, has awarded contracts to two sugar mills for 10,000 tons at a price of Rs45,720 per ton. Earlier, the TCP received 53 bids from local sugar mills quoting rates in the range of Rs45,720 to Rs50,000 per ton. Two mills, Hunza Sugar Mills Unit-I and Unit-II – offered the lowest price of Rs45,720 per ton for 5,000 tons each. “Being the lowest and conforming to all tender terms and conditions, the offers of these mills were accepted and they were awarded contracts for a total quantity of 10,000 tons,” the TCP said in a press release. However, the TCP said in order to complete the purchase of total targeted quantity of 100,000 tons, rest of the bidders, who quoted higher rates in the tender opened on Tuesday, had been asked to match the lowest bid price by Wednesday.

Published in The Express Tribune, February 1^st, 2012.