KARACHI: The Trading Corporation of Pakistan (TCP) has invited offers for sale of some 72 metric ton sweeping sugar lying at TCP’s warehouse. As per terms and conditions, the offers for sweeping sugar must be accompanied with the earnest money equivalent to 5 percent of the offer’s total value in the form of pay order / demand draft from a scheduled bank in favor of TCP. The offers without required earnest money will not be considered and rejected.

Following the directives of federal government, TCP has recently imported some 137,000 metric ton sugar for domestic consumption.

There are some five lots of sweeping sugar are at TCP’s Pipri warehouse. The first lot has a quantity of 18.90 metric ton with approximately 376 bags of sweeping sugar. Some 600 bags of 23.85 metric ton sweeping sugar are in the second lot. Third lot has 16.35 metric ton sweeping sugar, while fourth and fifth lots have 8.59 metric ton and 4.24 metric tons sweeping sugar respectively.

Bids will be opened on April 05, at corporation head office in the presence of bidders or their authorized representatives who may wish to be present at that time. The bids will remain valid for (30) thirty working days from the date of tender opening.

The interested parties have been asked to quote per metric ton offers in Pak rupees excluding all prevailing taxes which will be paid by the buyer at the time of issuance of delivery order.

Sale of sweeping sugar will be made on ‘as is where is basis,’ however, the interested parties may like to inspect the sugar sweeping at TCP’s warehouse Pipri on any working day.

The successful bidders will be required to make payment of allocated quantity (on the basis of quoted price) within ten working days from the issuance date of acceptance letter. In case of non-payment within stipulated days after the award letter, TCP reserves the right to forfeit the bid security of the firm.

The buyer is responsible to lift entire quantity within 15 working days effect from issuance of delivery order. In case of non-lifting by the party, another 15 working days will be given to their subject to payment of financing charges at bank prevailing rates and storage charges @ Rs.12.00 per metric tons per day.

In case party fails to lift the commodity within extended period, the TCP reserves the right to forfeit the performance guarantee without notice and the un-lifted stock will be sold.

Copyright Business Recorder, 2021