Trading Corporation of Pakistan has on Saturday opened the bids for tender for the import of 500,000 MT wheat.
The bids for the tender, floated on 3rd August 2004, were opened in the Boardroom of Trading Corporation of Pakistan (TCP). Initially, fourteen parties participated in the tender, but five parties regretted to offer their bids at the later stage and two offers were received without bid bonds, which was an essential condition for being considered.
The remaining parties submitting their bids along with the required bonds included M/s. Cargill, USA; M/s. Louis Dreyfus, USA; M/s. Dominion Grains, Switzerland; M/s. Australia Wheat Board; M/s, Tradeline, UAE; M/s. Agrico Trade & Finance, Switzerland and M/s. Noble Grain, Singapore.
The lowest bid was quoted at $198.30 PMT whereas the highest bid received was of $230.00 PMT. Total quantity offered by these parties amount to 11,74,000 MT.
The Price & Purchase Evaluation Committee, headed by Chairman TCP with representatives from the Ministries of Commerce, Finance and Minfal, is scheduled to meet on Sunday, 8th August, 2004 to evaluate the offers, whereas, decision is expected by Monday, 9th August, 2004.