Trading Corporation of Pakistan (TCP) has sold 48,000 cotton bales through a tender opened on Monday. TCP had invited bids for the export sale of 50,000 bales of cotton crop 2004-2005 and received 25 bids for 81,000 bales.
The Price Evaluation Committee, headed by TCP Chairman and officers from the ministries of Commerce, Finance, Textile Industry and Minfal as members, met the same day to evaluate the bids.
As per decision of the PEC, Counter Offers were given to all the bidders of Grade III plus, 1-1/16'' at US Cents 47.00/lb FOB while for Grade III,1-1/16" Counter Offers were given to all the bidders at US Cents 46.50/lb FOB.