Trading Corporation of Pakistan has procured some 10,000 tons of sugar from local mills against the sugar purchase tender of 100,000 tons and has offered 51 other bidders to match the lowest price to procure the remaining quantity.
In response to a tender regarding purchase of sugar, opened on Tuesday, the TCP received 53 bids from local mills quoting rates ranging from Rs45,720 to Rs50,000 per metric ton. All the bids were found responsive in terms of prescribed evaluation criteria. According to TCP's tender any sugar mill can submit bid for minimum supply of 2,000 tons and a maximum quantity of 5,000 tons.
TCP received two lowest bids from M/s Hunza Sugar Mills Unit-I and M/s Hunza Sugar Mills Unit-II, which offered equal lowest price of Rs45,720 per ton each for 5,000 tons quantity. Being the lowest and conforming to all tender terms & conditions, the offers of two lowest mills were accepted and they were awarded contracts, accordingly, for a total quantity of 10,000 tons of sugar.
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 to match the lowest bid price by today, Wednesday. Award of further contracts will be decided upon receipt of bid matching response from the concerned mills. In the first phase of procurement, TCP has completed purchase of 378,000 tons sugar from local sugar mills.
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