Islamabad : The Commerce Ministry has directed the Trading Corporation of Pakistan (TCP) to issue tenders for importing 50,000 metric tonnes of sugar. TCP has canceled the first two tenders due to high bids.
According to sources, the import process was temporarily halted due to expensive sugar, now the government has resumed the process for sugar import.
The Ministry of Commerce has directed the Trading Corporation to import sugar. The TCP is likely to issue a tender for 50,000 tonnes of sugar tomorrow.
According to sources, the prices of sugar in the global market are declining and the government hopes to get imported sugar at a relatively low rate.
The trading corporation has canceled two consecutive tenders for 50,000 tonnes. In the last tender, TCP received a bid of 54 544.10 per tonne.
According to sources, the minimum bid for imported sugar is Rs 90 per kg at Karachi port.