The Trading Corporation of Pakistan (TCP) has floated the second tender for the export as well as local sale of 60,000 bales of cotton from the crop of 2004-05. TCP Chairman Syed Masood Alam Rizvi said here on Saturday the Corporation will sell cotton to the highest bidders irrespective of foreign or local buyers. He said the TCP has offered cotton of Grade-III with staple length of 1-1/16" prime micronair stored at various locations. Of the total quantity, 30,000 bales of cotton will be offered from the TCP Karachi godown, 15,000 bales from DG Khan godown, 10,000 bales from Chichawatni godown, and 5,000 bales from Sanghar godown, he added.
The bidding will be held on May 7, 2005. The TCP chief said the Corporation will float more tenders to dispose of the entire quantity of cotton at its godowns, adding this will be a regular feature till the disposal of its entire stock.
He said the efforts of the TCP management will be to get better prices and make profit through this transaction.
It may be noted that the TCP had procured cotton last year on the instructions of the Federal Cabinet to stabilise prices in the market and ensure that growers should get a fair return on their crops.
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