+ISLAMABAD - Trading Corporation of Pakistan (TCP), in a bid to purchase sugar from local sugar mills, has awarded the purchase contract for a quantity of 20,000 metric tons to the two lowest bidders.

TCP, in response to its tender regarding purchase of 330,000MT sugar opened on Jan 14, has awarded the purchase contract for a quantity of 20,000MT to the two lowest bidders, M/s Kamaliya Sugar Mills and M/s Huda Sugar Mills (10,000 metric ton (MT) to each) at a price of Rs 52,800/- PMT.

In all 71 responsive bids received for a total quantity of 660,000MT. The rates quoted by the bidders for varying quantities ranged from Rs.52, 800/- PMT to Rs.59, 250/- PMT. M/s. Kamaliya Sugar Mills and M/s. Huda Sugar Mills quoted the lowest responsive price of Rs52, 800/- PMT each for a quantity of 10,000 MT. Being the lowest and conforming to all tender terms & conditions, the offers were accepted and the mills were awarded the contract, accordingly.

However, to complete the purchase of total targeted quantity of sugar, rest of the bidders, who quoted higher rates in the tender have been asked for matching the lowest bid price by tomorrow forenoon (16-01-2013).

The tender was floated on December 14, 2012 in pursuance of the directive of ECC of the cabinet. As per tender terms & conditions, bidders were required to quote bids for a minimum quantity of 5,000MT and maximum of 10,000 MT, in each case, to ensure widest participation.