ISLAMABAD - Trading Corporation of Pakistan (TCP) in a bid to complete its target of purchasing 330,000 MT sugar from local sugar mills has awarded procurement contract to M/s Kamaliya Sugar Mills and M/s Huda Sugar Mills after receiving lowest bids from them.

The TCP being part of Ministry of Commerce is mandated with a task to ensure availability of commodities to consumers at affordable prices and market intervention for ensuring fair price to farmers. Usually, it issues tenders for import and export of commodities and agricultural products in the country. With award of purchase contract for a quantity of 310,000 MT sugar, Trading Corporation of Pakistan (TCP) has completed its sugar procurement target from local sugar mills.

In a statement Trading Corporation of Pakistan (TCP) has said that now it had awarded purchase contracts for remaining quantity of 310,000 MT sugar to 69 local sugar mills on lowest bid price of Rs 52,800/ PMT, received in the tender opened on 14-01-2013.

The tender was floated by TCP for purchase of 330,000 MT sugar from local sugar mills on 14-12-2012, in pursuance of the ECC decision. In response 71 responsive bids were received for a total quantity of 650,000 MT. M/s. Kamaliya Sugar Mills & M/s. Huda Sugar Mills, offered the lowest rates of Rs.52,800/ PMT for a quantity of 10,000 MT each (total 20,000 MT), which were accepted and the award letters were issued to both mills, accordingly.

To complete the procurement of total targeted quantity of 330,000 MT, rest of the 69 responsive bidders were offered the option of price matching, who all consented to match with the lowest price of Rs.52,800/ PMT for a total quantity of 630,000 MT as against the balance required quantity of 310,000 MT. Hence, the purchase contracts were awarded, on pro-rata basis, to all the 69 sugar mills on the lowest price of Rs.52,800/ PMT.