Trading Corporation of Pakistan (TCP) on Saturday awarded contracts for 165,000 MT white refined/white crystal sugar against TCP tender No Imp/Sugar-3/6/2006 dated 12th May 2006.
The tender was opened on 20th May, 2006 at 12.00 o'clock in the principal office of Trading Corporation of Pakistan (Pvt) Limited, Karachi. Nine bids were received in all. Two bids were non-responsive. After considering all the responsive offers, the purchase & price evaluation committee on sugar negotiated with the lowest bidder M/s Al-Khaleej Sugar Co, Dubai quoting USD 509.50 per metric ton (PMT).
TCP was successful in getting the price reduced to USD 506 PMT for 50,000 MT. M/s Indian Sugar Exim Corporation and M/s MMTC Limited India also matched this rate for 40,000 MT and 25,000 MT respectively against their originally quoted rates of USD 510 PMT and USD 514.50 PMT.
The contract was, therefore, awarded to all the three parties for a total of 115,000 MT @ USD 506 PMT. In addition to this M/s Al-Khaleej was also awarded an additional quantity of 50,000 MT at USD 504 PMT. TCP saved USD 822,500 as a result of negotiation in these sugar purchases.-PR