Lowest bidder: $317 per ton is the bid accepted by TCP, while the highest price quoted was $338.87 per ton for import of 75,000 tons of urea. PHOTO: FILE
KARACHI: Trading Corporation of Pakistan (TCP), in response to a tender opened on Monday awarded the contract for import of 75,000 tons of urea to the lowest bidder Swiss Singapore Overseas Enterprises PTC at $317 per ton cost and freight (C&F) rate.
The tender was floated on July 10. Among a total of 13 bids received, 12 were found responsive in terms of prescribed evaluation criteria. The prices quoted in the tender ranged from $317 to $338.87 per ton C&F.
Swiss Singapore Overseas Enterprises PTC offered the lowest price of $317 C&F for 75,000 tons of urea, conforming to technical specifications and terms and conditions of the tender.
Keeping in view the competitiveness and consonance of the price with the international prices of urea, the offer was accepted and the contract was awarded to the lowest bidder accordingly.
TCP is importing 300,000 tons of urea in pursuance of the decision of the Economic Coordination Committee (ECC) of the cabinet. A fresh tender for the balance quantity is being issued separately to complete the total targeted quantity.
Published in The Express Tribune, July 23rd, 2013.
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Who owns Swiss Singapore Overseas Enterprises PTC?? Would be nice to know the faces behind this deal??? Anything with Swiss connection is food for thought.
Though Pakistan could fulfill its entire fertilizer demand through local production if enough gas was made available to the fertilizer plants. What a waste of money for a cash-strapped country.