The Trading Corporation of Pakistan (TCP) will spend about Rs 8 billion on the import of 0.225 million tons of urea. The TCP on Monday issued Gallop tender to invite bids for import of 0.225 million tons of urea from international suppliers.
The tender has been issued under clause 42d (III) of PPRA rules 2004 for immediate import of urea from pre-qualified foreign urea exporters/suppliers of TCP for supply of 0.225 million tons with ten percent more or less seller's option in bulk on C&F Port Bin Qasim and Gwadar port.
The TCP has strictly asked suppliers for supply of urea in accordance with the standard and specifications as prescribed by Pakistan Standard & Quality Control Authority (PSQCA) for Urea and the conditions of the import policy under 2010.
The TCP said: "Interested pre-qualified urea suppliers, who can supply urea from world-wide origins, may submit their bids in sealed envelopes at TCP offices till February 7, 2011, and bids will be opened on the same day after half hour".
Talking about financing, an official of TCP said that the Corporation has sufficient funds for import of urea and a healthy credit limit is available with banks for commodity operation. It has credit limit of Rs 110 billion for commodity operation and is regularly receiving payments from government and other institution on account of sugar sale, he said. He said that financing would not create any hurdle in the import process of urea as Rs 8 to 8.5 billion would be required for it.
"Currently, TCP has utilised Rs 97 billion from credit limit of Rs 110 billion. In addition, Rs 4 billion has been withheld for payment against sugar LCs, and remaining Rs 9 billion will be sufficient for the import of 0.225 million tons of urea," he added. Urea import on C&F base would cost about $425-$430 per ton.